Fitzroys’ Chris Kombi and Tom Fisher are marketing 105 Beach Street, the home of the famous D’Lish Fish overlooking Station Pier in Port Melbourne, on behalf of a private owner.
Adjacent to Port Melbourne Beach, Beach Cove Light Rail Station and Waterfront Place, and moments away from Bay Street, the 270sqm property boasts an extensive corner frontage of 43 metres and is offered with a secure 10+6+6+6-year lease to the longstanding business.
Interest is expected from $2.5 million.
D’Lish Fish was established by renowned fisherman and VFL/AFL footballer, commentator and media personality Rex Hunt in 1998, and quickly became a Melbourne institution, offering the quintessential experience of fish and chips on the beach. In recent years it has been voted as Melbourne’s best fish and chip shop by Urban List (twice), TimeOut, and Dish Cult, and has received an award from RestaurantGuru.
“This is one of Melbourne’s most iconic hospitality real estate investments - the home of what is arguably the city’s best fish and chips,” Kombi said.
“It’s an incredibly rare opportunity to acquire a high-yielding investment in an inner-Melbourne bayside location that’s home to a true local institution.
“The property presents the perfect set-and-forget investment. Melbourne retail properties with secure leases to successful tenants provide excellent investment prospects at a time of residential and share market volatility.
“We’re expecting local investors and buyers from across the country the show interest.”
Fisher said the well-supported beachfront location is set amongst an abundance of high rise apartment complexes and proposed future development activity.
“Port Melbourne has been one of the best examples of urban renewal in Melbourne this century, revitalised by new developments which have added significantly to the immediate residential and worker populations, enhancing trade prospects for local businesses and security of rent.
“This location also has a front-row seat to Australia’s largest urban renewal project, Fishermans Bend, which is expected to be home to 80,000 residents and provide employment for up to 80,000 people by 2050[1].
“This will provide a massive boost to the catchment, and more people in the vicinity will be looking for a quality food experience in the area, with Port Melbourne Beach set to become all the more popular as a destination.”
[1]https://www.vic.gov.au/fisherm...