Armadale shopfront for sale for the first time in 34 years

Gorman Commercial senior sales executive Nathan May says the single-fronted restaurant, currently home to Bottega Bistro, boasts a secure lease and strong income stream until 2029.

“There is not a lot of real estate that comes up in this tightly held pocket, and this really is a rare opportunity,’’ May says.

The 96-square-metre property was first bought by the current vendor’s father, a fruiterer in the strip, with the view to moving his business to the 22 Beatty Avenue location.

The move didn’t eventuate, and the owners retained the property. It has previously housed tenants like the French restaurant Chez Bob – a local favourite that had a cult following in the area.

The fully licenced restaurant has a six-metre street frontage, with al fresco dining fronting onto Beatty Avenue, a cosy indoor dining room and a leafy courtyard. The commercial kitchen fit-out is exceptional with quality appliances.

Sitting on a generous 279-square-metre parcel of land, the property benefits from invaluable rear access via Watson Street and includes on-site parking.

It is surrounded by other revered establishments, including Mammoth Cafe, Toorak Cellars and Neighbourhood Pizza.

Armadale has a village feel, with well-preserved Victorian-era shopfronts and homes and leafy streets.

“The Toorak Cellar building recently sold north of $3 million, so this is a chance for an investor to really snap up an iconic trophy piece’’ May says.

“The area really has had a renaissance and has that charming and quintessential Stonington feel to it. This offering really is a secure generational piece of real estate.”

Once known for its boutique fashion retailers, the affluent area is now drawing crowds to the pavement dining at Beatty Avenue’s restaurants and cafes.

Conveniently located within walking distance of Toorak station and serviced by trams along nearby High Street, the property offers excellent accessibility. It is frequented by both locals and visitors, and is near the 2.2-hectare Lend Lease development of Toorak Park, which has 446 apartments and 18 townhouses.

The property has a secure long-term lease of $49,440 a year plus GST and outgoings.

“The current tenants have varied the lease and have committed to November 2029 with two further options of five years,’’ May says. “There is a real opportunity to realign the rent income come market review time, and that could be a significant increase.”