A record $2 billion of pubs changed hands in 2021 as the sector rebounded, while Redcape and ALE departed the ASX and Justin Hemmes made his mark in Melbourne.
The benefits of Melbourne’s new Metro service has spurred on property investment, while the city’s reopening gives hospitality operators and retailers a boost.
The location is right in the heart of the much-loved Flinders Lane dining and entertainment precinct, surrounded by some of the city’s best-known restaurants, such as Chin Chin and Supernormal.
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A commercial building on Melbourneâs Flinders Lane thatâs home to renowned restaurateur Chris Lucasâs Kisume has smashed expectations to sell to a Melbourne-based private investor group for about $25 million on yield of just 2.5 per cent.
The Flinders Lane building sold for $5m more than expectedÂ
Itâs the third major property sale on Flinders Lane this year, where multiple lockdowns have not dampened investor enthusiasm for commercial property assets.
The laneway is Melbourneâs premier, late-night dining precinct and home to some of its most popular restaurants and bars including Chin Chin, Cecconiâs and Supernormal.
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The home of one of Melbourneâs best-known restaurants, Chris Lucasâ Kisume on Flinders Lane, has been listed for sale by philanthropist Helen Sykes with a price tag of about $20 million.
The Japanese restaurant occupies the lower levels of 175 Flinders Lane, an eight-level free-standing commercial building that Ms Sykes â the wife of former AFL commissioner and Carlton premiership-winning player Mike Fitzpatrick â acquired for $9.8 million in 2015 through her Sunshine Property Holdings.
Flinders Lane is Melbourneâs best known late-night dining and drinking hub, home to some of the cityâs most popular restaurants including Chin Chin (also part of the Lucas Group), Supernormal and Coda.