A Sydney-based private family has appointed Savills and Colliers to sell the ‘Manly Greenhouse,’ a rare beachside freehold retail investment opportunity prominently located adjacent to Manly Beach at 36-38 South Steyne.
Positioned around the corner from the iconic pedestrian retail and lifestyle precinct ‘The Corso’, the property offers unrivalled east-facing Manly Beach views with a state-of-the-art food and beverage fit out.
Widely considered as one of Australia’s most prestigious suburbs, Manly benefits from its iconic peninsula, bound by Sydney Harbour, National Park and the Pacific Ocean.
The Manly Greenhouse comprises a three-level retail building offering casual and outside dining at ground level, formal dining, a wine room and extensive balcony on the first floor and a rooftop cocktail bar with a retractable roof. The property has a total gross internal building area of 754 square metres on a 351 square metre site.
This recently refurbished property benefits from fully equipped kitchens and cool rooms on each level, a passenger lift, a total seating capacity of 376 patrons and a transferrable liquor licence.
“Manly Greenhouse will attract a diverse range of buyers including investors keen to secure prominent retail freehold in this tightly-held beachside enclave, but also owner-occupiers keen to lock in their own premises. The property has gun barrel views of Manly Beach with a well-known green façade, it is expected the property will attract interest from local, interstate and international buyers” said Ollie Ridley, Associate at Savills.
The Manly Greenhouse is tipped to become one of the most compelling Manly Beach investment opportunities this year.
Tom Appleby, Director at Colliers said, “the return of unrestricted international travel to Sydney has brought an influx of holidaymakers, students and young professionals to key tourist hotspots like Manly and Bondi. Evidenced by the well-publicised ferry patronage over the Easter long weekend where approximately 65,000 passengers per day travelled to Manly, the precinct is forecasted to experience extraordinary visitation growth over the next few years.”
Several well-known retail assets have transacted in Manly recently including the Ivanhoe Hotel for $57,000,000, Hotel Steyne for $62,500,000 and Manly Q Station for circa $20,000,000.
Manly Greenhouse is being offered for sale by way of international Expressions of Interest, with offers to be received by 4pm on Thursday 30 June 2022 (AEST).