Continued momentum in food and beverage retail has sparked the opening of new Mexican restaurant in Leederville, La Vida Urbana.
John Little, current owner at El Publico in Highgate, has signed a 10-year lease on his newest restaurant.
The new 245sqm venue at 228 Carr Place will feature an urban style fitout with exposed ceiling, polished concrete floors and traditional Mexican tiles.
CBRE’s Adrian Morabito negotiated the lease deal on behalf of a private landlord for an annual rental of $500 per square metre net.
Mr Morabito said the transaction highlighted the strong performance of food and beverage retail.
“Food and beverage remains the most active area of the retail market, with strong demand from both new and existing operators looking to enter and expand in the market,” Mr Morabito said.
Mr Morabito said Leederville’s established reputation as a premium retail destination was a major drawcard for John Little expanding in the area.
“Leederville is one of Perth’s top entertainment and dining precincts with a diverse mix of restaurants, bars, nightclub and complimentary retail, which provide all day activation. Couple the tenant mix with accessible parking, public transport and an ideal continuity of operators in a walkable area and you have the quintessential community hub.”
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CBRE Group, Inc. (NYSE:CBG), 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 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 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:CBG), 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 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 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.
