238 Lygon Street, Carlton, VIC 3053

Retail

Sold

  • Property ID: 444425
  • Floor Area: 243m²
  • Land Area: 256m²
Sold / Leased Results

Name Result Date Floor Land Result Price
Sold 05/06/2024 243m2 256m2 Contact Agent
Iconic Lygon Street Freehold Leased to Longstanding (40+ Years) Hospitality Institution

Stonebridge Property Group is pleased to present for sale 238 Lygon Street, Carlton, under instructions from liquidators Dye & Co.

The key highlights of the opportunity include:

- A Lygon Street freehold with unrivalled fundamentals, tenanted by a stalwart of Carlton's hospitality industry - La Spaghettata

- La Spaghettata 100% lease the property on a renewed 5-year term with 2 further 5-year options through to 2038

- The longstanding hospitality tenant has been trading out of the property for over 40 years, establishing itself as one of Melbourne's most well known and successful Italian restaurants

- The building enjoys prominent Lygon Street frontage providing valuable retail exposure and allowing advantageous outdoor seating

- Strategically positioned 256 sqm* landholding with highly accessible rear lane access and on-title parking

- The double level terrace spans 243 sqm* with expansive open plan floor plates perfectly suited to hospitality

- Ideally positioned in the world famous Lygon Street retail precinct, home to a multitude of national and international retailers in addition to some of Melbourne’s most recognised hospitality venues

- The precinct’s 24/7 retail activity is underpinned by its proximity to the Melbourne CBD (650 m*) and nearby education institutions (The University of Melbourne and RMIT)

238 Lygon Street, Carlton is offered for sale via Public On-site Auction on Wednesday 5th June 2024 at 2:30pm (AEST). To obtain further information or to arrange an inspection, please contact the exclusive selling agents, Stonebridge Property Group.

Nic Hage
0448 782 594

Rorey James
0439 400 081

Ian Lam
0416 621 859

* Approximately

Property Code: 948

Carlton Suburb Profile

Average Advertised Price
Property Type Price (m²) Rent (m²/p.a.) Yield
Industrial --- $231 ---
Offices $4352 $391 8.99%
Retail --- $366 ---
This is the average advertised price, rent and yield for Carlton, VIC 3053*

Days on Market
Time between initial ad placement and the listing’s withdrawal

Days on Market data for Retail in VIC for Sale

The spread of Days on Market is summarised into 4 time-bands (or quartiles) for each segment.
Understanding market expectations is skewed towards examining changes in the shortest duration quartile (fastest 25%)

Transactions per Month

* Excludes, where applicable, GST, outgoings and incentives. Values calculated based on the prices advertised by the agencies that list their properties on Commercial Property Guide.

Property Detail Notes:

  • 3rd Party Content - The information displayed on this page is supplied by registered real estate agents and other third parties. For questions regarding the information that appears here please contact the agent that is listed.
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