‘Hospitality hot spot’: Fitzroy doubled-fronted shop next to Vegie Bar for sale

A double-fronted retail shop in the heart of Fitzroy has hit the market offering its new owners the opportunity to capitalise on its prime location within one of Melbourne’s most established hospitality strips.

Offered as a vacant possession, 382 Brunswick Street sits next door to Fitzroy institution Vegie Bar, and is a short walk to the Rose Street Markets and the new Standard X hotel.

382 Brunswick Street sits next door to Fitzroy institution Vegie Bar. Picture: realcommercial.com.au/buy

The premises, which spans a 309sqm floor space on a 250sqm lot with rear lane access, has operated as Girls & Boys ice cream store during the day, and a restaurant at night.

It is being sold via an Expressions of Interest campaign seeking circa $3 million, and sales agent Kristian Lunardi from Nelson Alexander Commercial – Fitzroy said almost all the fixtures and fittings will remain with the property.

The premises has operated as Girls & Boys ice cream store during the day, and a restaurant at night. Picture: realcommercial.com.au/buy

“So as an investor, a tenant can walk straight in, and as an owner occupier there are other options to do their own fit out and leverage what’s there,” he said.

“It was on two titles and has been amalgamated long before the current owner purchased it and you can see that in the building where the party walls have been opened up.

“So for all intents and purposes, it is a double front. The business of trade that has been in there as an extension of next door, which is Vegie bar, (but) it’s a separate business to Girls & Boys.”

Almost all the fixtures and fittings will remain with the property. Picture: realcommercial.com.au/buy

Double fronted properties or “front and back” premises within this part of Brunswick Street’s entertainment strip surrounded by nightlife with a later liquor licence were a rare find, Mr Lunardi said.

“Other sections of Brunswick Street, or other retail strips perhaps don’t have that flexibility when it comes to nightlife,” he said.

The premises has operated as Girls & Boys ice cream store during the day, and a restaurant at night. Picture: realcommercial.com.au/buy

“That particular spot has and most likely always will be the hospitality hot spot of Brunswick Street and its popular right down from, say uni students and the cheap eats, to the higher end.

“It’s got varying price points. That means for hospitality success, you’re not pigeon holed into one specific offering you can have a variety.”

Double fronted properties or “front and back” premises within this part of Brunswick Street’s entertainment strip surrounded by nightlife with a later liquor licence were a rare find. Picture: realcommercial.com.au/buy

Interest has been strong with an owner occupier and an investment group looking at the premises, Mr Lunardi said.

“One of the investors is purely looking to refurbish and reset up,” he said.

“The owner occupier is a fairly well-established operator (and wants) to put a restaurant in there. I can’t disclose who they are for obvious reasons.”