Investors invited to jump on 10-year lease of popular Eastern Suburbs restaurant Bar Grazie
1/19-23 Elizabeth Bay Rd, Elizabeth Bay NSW
A property currently tenanted by Sydney restaurateur Barry McDonald’s popular Italian restaurant Bar Grazie has been listed for sale within the heart of one of the eastern suburbs’ top food districts.
Bar Grazie is tenanted at the retail site of 1/19-23 Elizabeth Bay and enjoys a five per cent net yield that returns approximately $225,000 per annum.
Price indications for the retail site indicate it could sell for $4.1m.
Barry McDonald’s Bar Grazie is looking for a new owner
The 160 sqm restaurant is situated within the busy Potts Point restaurant precinct, with neighbours including Ms G’s, Bistro Rex, The Butler, and the Apollo.
If successful, the buyer would enjoy a new 10 year lease to 2033 – with the option to add another decade to extend to 2043.
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The successful buyer would enjoy a 10 year lease with the site until 2033.
It is being presented for sale via Private Treaty, with The Rubenstein Group’s commercial director Jake Fahd managing the transaction.
Barry McDonald is a veteran of the bar and hospitality industry, founding Fratelli Fresh with his brother in 2004.
The restaurant is situated within the busy Potts Point precinct.
Mr McDonald also supplied produce to diners like Quay, Rockpool, and Tetsuya’s in the 1990’s.
Mr Fahd said Elizabeth Bay was one of Sydney’s most densely populated locations, with over 140,000 residents within a three kilometre area.
Mr McDonald also founded Fratelli Fresh with his brother in 2004.
“This is a rare opportunity to secure an A grade investment asset within the thriving eastern suburbs metropolitan area.
“Despite only launching a few days ago, we’ve had over 27 inquiries from investors who want to get their foot into the restaurant district.”
The retail site has been tipped to sell for $4.1m.
Mr McDonald sold the Fratelli Fresh business to Urban Purveyor Group, now known as Pacific Concepts, in April 2016.
He subsequently opened Cafe Georgio in Potts Point at the end of 2018, but it has since closed down to make way for a redevelopment.
