This article is from the Australian Property Journal archive
THE dual level Kingsley’s Woolloomooloo restaurant is up for grabs with a brand new long term lease and it is expected to sell for more than $15 million.
Stonebridge Property Group’s Carl Molony and Philip Gartland have been appointed to sell the Lot 8, Cowper Wharf Woolloomooloo property.
The property has been offered with 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.
“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,” Molony said.
Gartland said the opportunity to acquire an iconic real estate investment is extremely rare, particularly when leased to an operator has traded from the site since 2000.
Australian Property Journal
