Sydney icon Bill & Toni’s Cafe and Restaurant building up for sale
The iconic “Bill and Toni’s Italian Restaurant”.
A slice of Sydney history is on offer with the Darlinghurst home of Bill & Toni’s Cafe and Restaurant coming on to the market.
The much-loved eatery has operated from the same spot for half a century and now the building is expected to sell for in excess of $4m.
Bill & Toni’s Cafe and Restaurant will continue to operate.
Marketed through Mercer Property co-founders Tom Speakman and Matt Davoren through an expressions of interest campaign closing on August 25, the iconic eatery at 72-74 Stanley St is two years into a seven-year lease with an option to extend.
72-74 Stanley Street, Darlinghurst.
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An integral part of Sydney’s original “Little Italy”, the seed for today’s Bill & Toni’s was planted in 1965 when Guglielmo (Bill) Chiappini opened the San Siro coffee lounge at the site.
By the early 1970s, Sydney had fallen in love with Italian food so Bill added a restaurant above San Siro where Toni de Santis and Adolfo Fasciani cooked up authentic fare and a culinary star was born.
Since then, everyone from celebrities to everyday lovers of traditional Italian cuisine have dined out at the landmark bistro.
Everyone from celebrities to everyday lovers of traditional Italian cuisine has dined out at the landmark bistro.
“I think any investor who knows and understands the food business, or frequents the restaurant or cafe, would have some sentimental attachment to this property,” Mr Speakman said.
He added that while the hospitality industry has experienced challenges in 2020 and 2021, the popular establishment clearly had the recipe for success.
“These guys survived all of that and are still kicking goals. So I think it’s a testament to the business, and a testament to how loved they are in the local community.”
The prime city-fringe property sits on 278sq m and features two levels of cafe and restaurant space including two commercial kitchens, dual street access and rear parking for two to three cars.
In addition to the five years remaining on the current lease, there is an option to extend to 2032.
There is an option to extend the current lease.
The property earns a gross income of about $228,000 plus GST and there has been previous approval to build a rear outdoor terrace.
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