This article is from the Australian Property Journal archive
AN investor has secured a new retail outlet of global bubble tea brand Chatime, within Abacus Property Group’s Ashfield Central mixed use development, for $2.255 million under the hammer.
Belle Property Commercial’s Paul Di Mauro, Rocco Tripodi and Andrew Bozza sold the 156 sqm Lot 2, 250 Liverpool Road property in Sydney’s inner west.
Chatime has just signed 10-year lease with a further option of 10 years returning $135,000 per annum plus GST gross, with 4% annual increases.
The property has a 92 sqm internal space and 56 sqm external space, and is part of Ashfield Central which has 101 residential apartments and three ground floor retail spaces.
Chatime has been under fire after reporting by Nine media lifted the lid on workers at its corporate stores being underpaid as much as $6 million going back 10 years, a scandal which has since extended to its franchise network.
Australian Property Journal
