FOR SALE
$1.9million

118 Park Street
South Melbourne VIC 3205

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 160m2
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Unique Opportunity to Invest in a Historical Building in South Melbourne - Operating as an Indian Restaurant for 40 years

Phone enquiries - please quote property ID 32925.
This property is a unique and rare opportunity for investors or owner-occupiers looking for a commercial building with a twist. Located on Park Street in South Melbourne, this heritage building has been operating as an Indian restaurant for the past 40 years. Along with being a successful and iconic restaurant, the property also features a caretaker residence with 2 rooms.
Upon entering the property, you are greeted by a large dining room that can comfortably seat approximately 35 people. The restaurant is licensed to seat up to 43 people, providing the opportunity for growth and expansion. With its traditional Indian decor and cricket-themed ambience, the atmosphere of the restaurant is charming and inviting. The walls are adorned with memorabilia, adding to the unique character of the space.
The entire property spans over an impressive 160m2, offering ample space for both the restaurant and the caretaker residence. This combination of commercial and residential space makes it an ideal investment opportunity for buyers looking to lease the property to an Indian restaurant tenant. It also offers the possibility for a residential conversion after some renovations with the possibility of north facing sundeck STCA
The property is suitable for both investors and owner-occupiers, offering the flexibility to choose the most suitable option. It is currently not tenanted, providing the opportunity for buyers to take over and start their own business or lease it out to a new tenant STCA.
One great feature of this property is the location. It is situated on Park Street near the corner of Kingsway in South Melbourne, which is only 10 minutes away from the city centre. The property is conveniently located within proximity to various amenities, making it an attractive spot for potential customers. It is a short distance from the MCG, tennis center, Clarendon Street shopping plenty of cuisine hubs within walking distance, beaches, Albert Park Lake, Grand Prix circuit, schools, St Kilda Road, the Shrine, botanic gardens, Crown casino complex, Yarra river and the NEW ANZAC METRO STATION (opening 2025) and WOOLWORTHS store (2024) next to it at the end of park st 300 meters away. This prime location offers convenience and accessibility to a wide range of buyers and investors.
With "Cricket" as its theme, this property has a unique and fascinating story behind it. The current owners have run the restaurant for 40 years, and they are now looking to retire. Their passion for Indian cuisine and cricket can be seen through the well-maintained interior and the success of the restaurant. The upstairs rooms and bathrooms were renovated 6 years ago.
Don't miss the chance on this unique opportunity to invest in a historical building in South Melbourne. Operating as an Indian Restaurant for 40 years with 2 room caretaker residence. Steps away from shops, MCG, Tennis center, and other amenities. TRANSPORT AT YOUR DOORSTEP !!!!
Enquire now! Open to inspection Tuesday to Saturday 5 pm-8.30 pm or by appointment
DISCLAIMER No Agent Business (www.noagentbusiness.com.au) is an Australian For Sale By Owner website operating since 1999. We proudly assist commercial property owners who are looking to sell or lease their own commercial property without paying any real estate commission. While every care has been taken to verify the accuracy of the details in this advertisement, the correctness cannot be guaranteed.

Property Details for 118 Park St, South Melbourne

Building Type
Commercial
Floor Size
160m2

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About South Melbourne 3205

The size of South Melbourne is approximately 2.2 square kilometres. It has 15 parks covering nearly 3.3% of total area. The population of South Melbourne in 2011 was 9,317 people. By 2016 the population was 10,892 showing a population growth of 16.9% in the area during that time. The predominant age group in South Melbourne is 30-39 years. Households in South Melbourne are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in South Melbourne work in a professional occupation. In 2011, 44.8% of the homes in South Melbourne were owner-occupied compared with 40.2% in 2016.

South Melbourne has 11,214 properties. Over the last 5 years, Houses in South Melbourne have seen a 20.54% increase in median value, while Units have seen a -1.71% decrease. As at 30 September 2024:

  • The median value for Houses in South Melbourne is $1,707,254 while the median value for Units is $593,256.
  • Houses have a median rent of $740 while Units have a median rent of $625.
There are currently 37 properties listed for sale, and 42 properties listed for rent in South melbourne on OnTheHouse. According to CoreLogic's data, 433 properties were sold in the past 12 months in South melbourne.

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