This article is from the Australian Property Journal archive
SYDNEY’S chicken and burger eatery Chargrill Charlie’s has swooped on a Camberwell building to open its first Melbourne restaurant.
Fitzroys’ Chris James negotiated the long-term 10-year lease for 10 Prospect Hill Rd at $228,000 per annum net. The building has a 365 sqm ground floor area and sizeable 58 metres of frontage.
Chargrill Charlie’s has operated for nearly 30 years and has 10 locations across Sydney, and its profile went international last year when pop megastar Justin Bieber decided to have a casual lunch at its Mosman location.
James said the long-term lease secured for the prime Camberwell retail space shows the confidence in the area’s revitalisation held by experienced and established operators, spurred by a strong residential development pipeline.
James said there has been growing enquiry in the inner-east as developments such as Camberwell Village, Hawthorn Park and others nearby come online.
“This growth in the immediate catchment is providing a further boost to trade in the area, further underpinning the long-term viability and growth prospects of businesses.”
James recently negotiated the lease of 670 Burke Road, just metres away on the corner of Burke Road and Prospect Hill Road, to optometry group EyeQ.
Similarly, the lease was a long-term deal at 7+5+5 years for the 87 sqm ground floor space, at $85,000 per annum net.
Australian Property Journal
