The former home of celebrated restaurant, Adrian Richardson’s La Luna, is set for a new chapter.

Fitzroys’ Shane Mills and James Lockwood, in conjunction with Pat Burke of MP Burke Commercial, are marketing for sale the landmark Rathdowne Village corner at 320 Rathdowne Street, Carlton North on behalf of a private owner.

The property goes to auction on Thursday, 20 March from 12pm on-site. Expectations are of $1.8 million-plus.

The campaign marks the first time in 37 years the property has been for sale.

“Rathdowne Village is very tightly held with properties rarely changing hands,” Mills said.

Offered with vacant possession, the the impressive 270sqm double-storey building is suited to a range of uses.

From its former life the property has full hospitality and kitchen services in place, providing an excellent opportunity for a hospitality occupier to move straight in.

“Long-term stalwart La Luna exhibited the underlying potential of the location, and hospitality operators have the generational chance to secure a landmark Rathdowne Village corner location with existing kitchen infrastructure and create a new legacy for this space,” Mills said.

Hugely popular bistro La Luna was in the location for 26 years before Richardson decided in 2024 to focus on other projects.

Mills added that the property has a restaurant permit in place for 110 patrons, and there is the ability for a user to apply for a footpath trading permit which would increase the patron numbers and utilise the leafy outdoor setting in front of the property.

Lockwood said, “Other occupiers, investors and value-add buyers looking to repurpose will recognise this is a remarkable opportunity to acquire a Rathdowne Village corner freehold.
“Rathdowne Village is a dynamic lifestyle precinct centred around a growing residential catchment in the heart of Melbourne’s hugely popular inner north, and is close to universities and major hospitals.

“The residential, worker and student populations all support strong trade in the Village, and offer excellent growth prospects.”

Known for its leafy trees and charming character, Carlton North has a high median house price of $1,515,000, according to REA.