Vacant Glebe restaurant a character-filled opportunity
Savvy buyers looking to cook up a storm in the inner west have the chance to snap up a character-filled vacant restaurant with the potential to convert it into a home.
The property at 207-209 Glebe Point Rd in Glebe is a double-fronted three level terrace built in the Italianate style.
Constructed as two residential homes, it has been owned since 1999 and was originally run as a Vietnamese restaurant. It was then rented out to tenants like Alfie and Hetty Restaurant and Darbar before hitting the market with a guide of $2 million.
Commercial Insights: Subscribe to receive the latest news and updates
The current property has many of the original features including high ceilings, fireplaces, timber floorboards and its facade, with tessellated tiles leading up to the grand entrance.
You could easily start your own restaurant at 207-209 Glebe Point Rd.
Listing agent Michael Montano of Raine and Horne Commercial is taking the property to auction on November 17 and says it is hard to find a property that has period features with this much potential.
“You don’t really see many underdeveloped properties along Glebe Point Rd,” he says.
“It is a very rare opportunity.”
On two separate titles, the property is currently configured as a restaurant, with the main floor having a large commercial kitchen and two bathrooms.
Views from the top floor at 207-209 Glebe Point Rd.
The rear of the property at 207-209 Glebe Point Rd.
The upper level is set out as a dining room with city views, while the basement is used for storage and leads out to a small courtyard.
While it could be used as a great business investment, there is also scope to convert it back into a residential dwelling (STCA).
The last time it sold was for $306,667.
This article from the Inner West Courier originally appeared as “Vacant Glebe terrace used as restaurant has auction guide of $2m”.
