Home of award-winning chef Charlie Carrington’s Cuban sandwich shop listed for sale
The home of South Yarra’s ‘Little Havana’ is up for sale, but the Cuban sandwich shop won’t be going anywhere.
The home of a popular Cuban sandwich shop run by one of Melbourne’s most esteemed chefs is set to give investors a taste of Prahran’s hospitality sector.
Little Havana was opened in September 2023 by award-winning chef Charlie Carrington, who also heads the highly regarded Atlas Dining, located nearby in the bustling suburb of South Yarra.
Listed with a $1.25m asking price by Colliers investment services executive Lucas Soccio, the 99 High St, Prahran, home of Little Havana has been dubbed a “set and forget” investment.
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“The market is definitely improving from where it was in regards to confidence back into the hospitality with prime locations on corners, strong street exposure, well-known tenants and long-term leases,” Mr Soccio said.
And with Mr Carrington holding a 10-year tenancy, Mr Soccio said the investment opened the buyer pool up to super fund purchasers who were prevalent in the market right now.
“Especially sub-$2m to $3m with long term leases, they’re very favourable in today’s market,” he said.
The corner shop front of Little Havana.
The tenancy also has a built-in 3 per cent rent rise annually, with the option to extend the lease until 2053.
It currently generates a yearly income of $74,987.
Located on the corner of High St and Porter St, the retail space was developed by Charter Group and designed by K2LD Architects.
Mr Soccio also recommended investors try the famed Cuban sandwiches, which after testing them himself, he was happy to say were delicious and a good size.
The retail space goes under the hammer at 1pm on June 20.
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