Two new deals with a retail focus,are at 21 Elizabeth Bay Road,Elizabeth Bay and 245 Oxford Street,Darlinghurst through private investor and developer Greg Magree and Matt Hudson from Hudson Capital.
Hudson said the attraction is the working from home practices and the relocation from CBD to fringe and suburban locations,“which has further strengthened the trading performance of many hospitality operators picking up the few additional trading periods with mid-week lunches and aperitive dining”.
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“We are confident in the strength of the investment market underpinned with strong covenants in key locations. Hospitality has been the most resilient sector through the last few years,and we expect this to continue,” Hudson said.
At 21 Elizabeth Bay Road,Magree and Hudson are selling the property in which Barry McDonald’s latest restaurant Bar Grazie in Elizabeth Bay has the lease for the next decade.
The property will be sold through agents Burgess Rawson’s Yosh Mendis and Drew Mitchell and CBRE’s Gemma Isgro,who said,“smart money is keen on the food and beverage sector after the continued strong performance compared with other retail categories trading out of the pandemic”.