The CBD building housing Melbourne’s highly regarded Greek restaurant Tsindos has been listed for sale for the first time in close to four decades.
CBRE’s Melbourne City Sales team of Julian White, Alex Brierley, Nathan Mufale and Leon Ma have been appointed to market the 197 Lonsdale Street property, which has been in the same ownership since 1980.
Occupied by long term tenant Tsindos, the three-level, 328sqm building is positioned on the corner of Lonsdale Street and Heffernan Lane and offers more than 30 metres of street frontage.
CBRE’s Mr White said the property’s highly central retail location, opposite QV Melbourne and a short walk to Swanston Street, Emporium Melbourne and Melbourne Central, was expected to drive strong interest in the property’s June 27 auction.
“Positioned between these three major shopping centres, that have close to 650 stores between them, 197 Lonsdale Street is situated in a high trafficked retail location providing strong underlying fundamentals for future growth,” Mr White said.
CBRE’s Mr Brierley noted that the building was positioned in a section of Lonsdale Street that had been associated with Melbourne’s Greek community since the 1940’s, with Tsindos having occupied the property since 1969.
“This precinct of the Melbourne CBD has a strong cultural history and properties very rarely trade,” Mr Brierley said.
This listing follows considerable activity in this section of the Melbourne CBD, with another property at 26 Corrs Lane, due to be auctioned on Friday 13th June.
CBRE’s Melbourne City Sales team of Julian White, Alex Brierley, Nathan Mufale and Leon Ma have been appointed to market the 197 Lonsdale Street property, which has been in the same ownership since 1980.
Occupied by long term tenant Tsindos, the three-level, 328sqm building is positioned on the corner of Lonsdale Street and Heffernan Lane and offers more than 30 metres of street frontage.
CBRE’s Mr White said the property’s highly central retail location, opposite QV Melbourne and a short walk to Swanston Street, Emporium Melbourne and Melbourne Central, was expected to drive strong interest in the property’s June 27 auction.
“Positioned between these three major shopping centres, that have close to 650 stores between them, 197 Lonsdale Street is situated in a high trafficked retail location providing strong underlying fundamentals for future growth,” Mr White said.
CBRE’s Mr Brierley noted that the building was positioned in a section of Lonsdale Street that had been associated with Melbourne’s Greek community since the 1940’s, with Tsindos having occupied the property since 1969.
“This precinct of the Melbourne CBD has a strong cultural history and properties very rarely trade,” Mr Brierley said.
This listing follows considerable activity in this section of the Melbourne CBD, with another property at 26 Corrs Lane, due to be auctioned on Friday 13th June.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
