Melbourne

Luxury car dealer to trade renowned Melbourne kebab strip

Melbourne-based luxury car dealer, Srecko Lorbek, is divesting a portion of his CBD property portfolio with the sale of three renowned Flinders Street kebab outlets.

17 Oct 2018

Melbourne-based luxury car dealer, Srecko Lorbek, is divesting a portion of his CBD property portfolio with the sale of three renowned Flinders Street kebab outlets. 

Mr Lorbek, owner of Lorbek Luxury Cars, has appointed CBRE’s Melbourne City Sales’ Max Ruttner, Alex Brierley and Ben McMahon to steer the sale of the ground floor retail property, located at 546-548 Flinders Street, via public auction. It marks the first time in more than a decade the property has been offered for sale. 

The ground floor property benefits from a prime position in Melbourne’s 24-7 nightlife precinct and provides 12m of hotly contested Flinders Street frontage. 

The property is leased on a long-term basis to three individual kebab shops – each of which enjoy strong trading conditions. The property generates a combined net income of $75,852 per annum. 

Mr Ruttner said the sale represented an outstanding opportunity to acquire a slice of prized CBD real estate. 

“The Flinders Street kebab strip is a Melbourne institution, close to King Street and renowned amongst many Melbournians who frequent this popular late night precinct,” Mr Ruttner said.  

“The property also benefits from proximity to Melbourne’s future hotel development precinct, including Tune Hotels, Hyatt Hotel and the St. Regis Hotel – all to be located within 300m of the property,” Mr Ruttner said. 

The property will be offered for sale via public onsite auction Friday, November 2 at 12.30pm (AEST).For Australian/international news or global stories, follow us on Twitter: @cbreaustralia

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 2017 revenue). The company has more than 80,000 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.

Disclaimer:

Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of 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 https://www.cbre.com.