Former Fratelli Fresh Waterloo Hits the Block

The former home of well-known Sydney Italian restaurant Fratelli Fresh in Waterloo has been listed for sale, with price expectations tipped to exceed $25 million.

Located at 3-7 Danks Street, the asset is the headquarters to eatery and produce chain Fratelli Fresh and was listed for $25 million.

The space has spent the past decade operating as a restaurant and grocery “food hall” until Urban Purveyor Group acquired the brand in 2016.

Now, with Fratelli Fresh headquarters on the market, Urban Purveyor Group expect strong returns thanks to its size and location.

CBRE’s Harry George said that its commercial potential would be a strong selling point.

“It is expected that this building will be repositioned to a mixed-use development including commercial office, showroom and retail,” George said.

“Office space requirements are changing, with tenants now seeking creative office space in locations such as Waterloo that are close to amenity and public transport.

The property sits on a 2,125 square metre site and comprises a two-storey building with GFA of 4,250 square metres.

Curtain closes on Melbourne theatre restaurant

After almost 30 years in the same hands, Dracula’s Cabaret Show & Dinner in Melbourne was listed for sale with expectations around the $10 million mark.

The two-storey building at 100 Victoria Street is located directly opposite the new “CBD North” Underground Railway station, at the intersection of Cardigan and Victoria Streets, in the northern pocket of Melbourne’s city fringe. CBD North will be renamed “State Library”.

The property, which is being offered for sale vacant possession, features a fully-serviced theatre, multiple access points, a full line commercial kitchen and an activated rooftop, in addition to an existing late night liquor license.

CBRE’s Josh Rutman said the existing improvements and blank canvas would be a key buyer draw card, providing ultimate flexibility to the end purchaser.

“The property would suit a variety of long term uses given the genuine potential for additional levels to be constructed upon the existing building or a complete redevelopment into a much larger building in the future, subject to relevant planning approvals.”

“Authorities have earmarked the precinct as part of the City North plan, which will see increased development and density over the coming years, making 100 Victoria Street ideally suited for use as a nightclub, multi-level restaurant or hospitality concept.”

The building’s location has made it subject to the City North plan, which will see increased development and density over the coming years

Major investments into the precinct have been made by some of Melbourne’s largest universities, such as the recently approved Carlton Connects joint venture between Melbourne University and Lendlease, and a range of student accommodation developments and award winning residential projects have followed suit.

Other major developments in the precinct include Scape Student Living’s student accommodation development at 393 Swanston Street and Hengyi’s 70-level tower at Swanston Central.