Wednesday 21st August 2024 at 3pm unless sold prior.
Leased to renowned Japanese café
POINT OF INTEREST
NAMOO Izakaya.
“If you’re a seasoned investor and can handle the heat, then get into this kitchen — because the food is exceptional, but the long-term value is only getting rarer.
Jarrod Moran Director - Agency
When it comes to investing in Melbourne’s CBD, this is the premium cut above the rest who deal in Wagyu on the daily. Talk to us to get your name on the hospitality door.
Ian Angelico Managing Director - Agency
OF VIEW
If cash is king, then assets are Queen — and investing in this beloved and long-term restaurant tenancy in the heart of the CBD is as strategic as it is a delicacy.
POINT OF VIEW
POINT OF VIEW
• Leased to renowned Japanese café NAMOO Izakaya.
• $182,497.91 + GST in annual leasing income.
• Recently renewed 10-year lease agreement.
• $95,513.32 bank guarantee + director guarantees.
• Trading 7 days a week with a 2am liquor licence.
• 180 sqm* total ground-floor building area.
• Major bus interchange on the doorstep with 6 bus routes.
• 50 m* from CBUS Property 1-billion mixed use project.
• 10 min* walk to all major CBD Railway Stations.
PROPERTY DETAILS
A specialised CBD retail asset that’s built up a strong customer following for its sashimi, wagyu, and yakitori, Namoo Izakaya has been attracting the (five) stars from all points of Melbourne and beyond. The renowned Japanese café has recently renewed its agreement with a 10-year lease, beginning on the 1st of May 2023 with a contract worth $182,497.91 + GST. There are 4% reviews annually plus a $95,513.32 bank guarantee and personal guarantees.
A prime ground-floor location, 180 sqm* of building area, and an office building above housing everything from lawyers and physiotherapy to finance and Snap Print Solutions — this is the commercial market’s signature dish. The commercial tenants above underpin regular trade for Namoo, but so do the neighbouring accommodation options.
This Queen Street block — between Bourke and Little Bourke — is anything but sleepy. Bustling with local retail, tech services, coffee stops, and workplace suites, there’s also the Adina Apartment Hotel on one corner and the Hilton on another. The only thing they all have in common: Guests, employees, and shoppers are constantly looking for an easy lunchtime bite.
The bus interchange sits here too with 7 different bus routes getting on or off at your doorstep, while the Bourke Street trams are a few minutes walk down the road. As is the convenience of the CBD, three railway stations are within 750 m* of Namoo — Flinders, Southern Cross, and Flagstaff.
Some get into the CBD to be a central office dweller, others establish themselves here to feed them. And this crowd favourite will also be the commercial crowd’s top pick for an FY25 portfolio add-on.
MELBOURNE CBD
It’s no empty statement, Melbourne has the lowest CBD retail vacancy rate in the country. Over the past two years, shopfront vacancy rates across the city have nearly halved according to the City of Melbourne’s economy snapshot. The office dweller is well and truly back, with Monday commuter traffic at Flinders Street Station and spending on dining in the CBD skyrocketing, while retail and hospitality industries thrive with total employment increasing by 6 per cent compared to the last year.
The City of Melbourne, independent developers, and private investors have never been shy to innovate and upgrade within the CBD. Cbus Property has been green-lit to build their $1-billion “vertical village” at 140 and 150 Queen Street. The 48-storey tower will be one of the first in the world to feature a “solar skin” facade, a sustainability marvel and significant investment. The 60,000 sqm of net leasable office space will have enough room for around 5,500 office workers whilst targeting 6-Star Green Star New buildings rating.
PROPERTY PARTICULARS
Zoning Activity centre zoning
JARROD MORAN JARROD MORAN
ORAN JARROD MORAN JAR
POINT OF INTEREST
The key word you’re looking for is knowledge. It’s Jarrod’s established market understanding, extensive business experience and strong work ethic defined by motivation and dedication, that makes him a seasoned asset not just to CVA but to your day-today. And it’s this energy that amplifies opportunity — in Melbourne, in the market and in the minds of his clients.
POINT OF VIEW
The commercial and industrial property market is made up of two key elements: opportunities and requirements. In identifying and negotiating the right fit for each client, it is not just our ambition to achieve the best possible outcomes, but a way of ensuring the complete picture.
IAN ANGELICO IAN ANGELICO
LICO IAN ANGELICO IAN
POINT OF INTEREST
In more than 35 years, Ian has witnessed the successful signing of more than two thousand commercial real estate transactions – which is more of a legacy, than a track record. And it’s one that has been achieved by adopting a methodical approach amongst a myriad of changing variables. It’s one that has been sharpened through his holistic exposure to commercial projects across all points of Melbourne. By focusing on maximising each property’s profitability, Ian ensures that at the end of the day, it’s maximising value that determines his success.
POINT OF VIEW
Business, similar to commercial property, comes down to economics — the all-important dollar. And so, those in the market must recognise that when providing platforms for businesses to transition from ideas to implementation, the price must be right not just today but tomorrow, too. “
HESAN MAZAHERI HESAN
hesan.mazaheri@cva.melbourne
Hesan
Mazaheri Senior Property ExecutiveCBD & Inner Region Melbourne
MAZAHERI HESAN MAZAHERI
POINT OF INTEREST
Hesan’s inquisitive nature, industrious work ethic, and passionate drive are the backbone of his successful career in commercial property. While Hesan joined the CVA team in March 2023, his client-centred approach and deep understanding of the industry have been with him for much longer — call it strong family values and heritage. With an acute ability to tailor solutions and understand his clients’ needs and objectives, Hesan has built more than a network, but rather lasting relationships fostered by clear communication and good faith. It’s an on-going motivation that joins him daily, in a role where no two the same.
POINT OF VIEW
In the dynamic world of Melbourne’s commercial property market, sound advice and strategic planning are the keys to successful investment transactions. As an expert in retail and generational assets, I see immense potential for growth and success in this market. With the right insight and guidance, we can maximise what can be achieved.
Disclaimer: This report has been compiled on the basis of information available. Though efforts have been made to verify or establish the accuracy of all material, it is not possible to warrant that it is accurate. Some predictions are estimates only and necessarily based on assumptions which may not occur. All parties should make their own independent enquires with regard to all the information contained in this report. The report is intended to be general information only and will not form part of any contract nor is it to be taken as any form of any representation, warranty or inducement. The agents and representatives do not accept any responsibility for and will not be liable in respect of any of the contents of this report.
