Melbourne, 20 June 2016 – Renowned coffee pioneer Salvatore Malatesta is moving to sell a prime Melbourne laneway property, home to one of the city’s most highly regarded north eastern European restaurants – Sezar.
Located at 6 Melbourne Place, in the heart of the CBD’s sought after ‘Paris end’, the 180sqm property is regarded as one of the city’s upcoming dining hotspots.
Operated by owner-chef Garen Maskel – the former sous chef at the highly acclaimed Ezard restaurant in the CBD – Sezar is a two-storey, modern restaurant specialising in fine dining Armenian cuisine.
The property is currently leased to Sezar on a 10-year term expiring in 2020.
CBRE’s Paul Tzamalis, Tom Tuxworth and Josh Rutman have been appointed to sell the laneway retail asset on behalf of Mr Malatesta and his business partner via an onsite auction next month.
Mr Tzamalis said opportunities to acquire prime CBD real estate retail, well leased to established tenants, were scarce.
“This laneway property is quintessential Melbourne – representing a truly unique opportunity to acquire a landmark presence in the keenly sought after Paris end of the CBD,” Mr Tzamalis explained.
“With the security of a high profile, successful business operation in place, the investment appeal of this property is expected to be hotly contested from both domestic and international investors.”
Owner Salvatore Malatesta commented on the sale of the high profile laneway property: "Owning a piece of Melbourne CBD is an anchor in a city I love dearly and something everyone should do at some point in their lives.
“The tenants have made this experience fantastic and have really grown over the years. I hope the new owner can experience the enjoyment and benefit of this property like I have as the tenant continues to mature in this growing location."
The property benefits from close proximity to the Kelvin Club, Izakaya Den and Embla wine bar, with Sezar providing the corner piece of Melbourne Place.
The Melbourne Place property is being offered for sale via an onsite auction on July 15 at 12.30pm.
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