FOR SALE
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101 Glebe Point Road
Glebe NSW 2037

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The Local Lounge / Bar / Cafe - (Formerly Despana Tapas Bar)

Phone enquiries - please quote property ID 34110.
A fantastic venue offers a wonderful opportunity. Step back in time at Local Lounge, Glebe's global fusion Restaurant & Bar. Channeling a speakeasy vibe. Exposed brick walls & plush banquette seating create an intimate , retro atmosphere
Recently rebranded, Local Lounge offers a welcoming, rustic atmosphere
Location:
Situated on a main road shopping strip, amidst other eateries and close to the vibrant Glebe Markets, Local Lounge is ideally positioned to attract a steady stream of customers.
Features:
* Established Reputation: Over 12 years in operation - current owner managing it for the past two years.
* Asset Sale; includes all fixtures, fittings, equipment.
Key items:
* Full commercial kitchen with char grill, stainless steel benches, multiple under-bench fridges, freezers.
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Property Details for 101 Glebe Point Rd, Glebe

Building Type
Commercial

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About Glebe 2037

The size of Glebe is approximately 1.7 square kilometres. It has 14 parks covering nearly 17.1% of total area. The population of Glebe in 2011 was 11,123 people. By 2016 the population was 11,538 showing a population growth of 3.7% in the area during that time. The predominant age group in Glebe is 20-29 years. Households in Glebe are primarily childless couples and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Glebe work in a professional occupation. In 2011, 34.9% of the homes in Glebe were owner-occupied compared with 34.8% in 2016.

Glebe has 7,997 properties. Over the last 5 years, Houses in Glebe have seen a 29.95% increase in median value, while Units have seen a 23.35% increase. As at 30 November 2024:

  • The median value for Houses in Glebe is $2,453,549 while the median value for Units is $1,191,309.
  • Houses have a median rent of $875 while Units have a median rent of $700.
There are currently 18 properties listed for sale, and 43 properties listed for rent in Glebe on OnTheHouse. According to CoreLogic's data, 222 properties were sold in the past 12 months in Glebe.

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