Stonebridge Property Group has been exclusively appointed to sell a premium restaurant investment at the iconic Cowper Wharf in Sydney’s Woolloomooloo.
Lot 8, Cowper Wharf Woolloomooloo is a dual level waterfront restaurant occupied by the dining institution ‘Kingsley’s Woolloomooloo’ on a brand new 10+10 year net lease. The lease is backed by one of Australia’s leading premium food and beverage companies, Dixon Hospitality, which operates 38 high-end venues across Sydney and Melbourne.
Selling Agents Carl Molony and Philip Gartland on Stonebridge expect pricing to exceed $15 million.
Molony is confident of high demand for the property. “Lot 8 is located on the footsteps of the booming Sydney CBD in the City’s premiere fine dining precinct. In addition to the trophy waterfront location, Lot 8 presents as a compelling investment opportunity. The new 10-year net lease, outstanding covenant strength, annual CPI reviews and additional percentage rent potential will attract strong interest from domestic and offshore investors”.
Gartland says that “the opportunity to acquire an iconic real estate investment within a precinct anticipated to benefit from the major infrastructure public and private investment presently being undertaken within the CBD and fringe is extremely rare, particularly when leased to an operator has traded from the site since 2000.”
Lot 8 Cowper Wharf is for sale by International Expressions of Interest closing 22nd March 2017.