This article is from the Australian Property Journal archive
AN Italian café and bar has opened in Melbourne’s Equitable Place.
Valentini’s is the latest venture from an experienced operator in the hospitality industry who has owned, operated and managed venues in South Melbourne, Carlton and the CBD.
Fitzroys associate Alex Shum negotiated the five-year lease with a five-year term for the 101sqm space at 12 Equitable Place at $110,000 per annum on behalf of a private investor.
The deal reflected a building rate of $1,090 per sqm.
Shum said Melbourne is synonymous with its world-renowned coffee and hospitality
offering, and the operator was keen to secure a famous laneway space in the heart of the CBD for this venture.
“Laneway spaces in Melbourne’s CBD continue to hold a special place in the city’s psyche. The enquiry received for this space came from a range of hospitality operators and fashion retailers looking to secure their own place in Melbourne’s famous laneway culture,” he said.