- Micro stores popping up in Melbourne and Sydney
- Potts Point set to be the commercial property hotspot in inner Sydney in 2017
It’s a little old fish and chip shop that, pound for pound, could eclipse the mansion with sweeping ocean views up the road.
Welcome to what is likely to be one of the priciest premises for a take-away in the land – the humble 1920s chippy on Bronte Beach.
Only 46 square metres in size, and with an auction price guide of about $2 million, it will fetch $43,480 a square metre if it sells for that amount. This compares with Bronte’s highest-priced house, which is set on 770 square metres overlooking the ocean on Bronte Road, and which sold in 2013 for $16.5 million, or $21,430 a square metre.
”It’s pretty outrageous when you think of it like that but, really, when you consider prices on the Bronte and Bondi beachfront, it’s quite reasonable,” says Ray White City South agent Michael Buium.
“Its current rental is $149,412 per annum plus GST, so that represents a great return for anyone who buys it. And as well, it’s something of an icon in the area; it’s a bit of a trophy property. It’s like owning a bit of history, as well as owning a bit of Bronte Beach.”
Starting out life as a butcher’s shop, it became a fish and chippery after World War II and has been doing a roaring trade ever since. As one of only nine premises facing the beach, it’s also the single take-away business with a full kitchen, grease trap, exhaust fan and cool room.
The current owners, Bob and Kay Holloway, bought the business and property in 1988 for about $290,000 and subsequently sold the flat attached to it for $120,000.
“But back then, no one wanted to live in Bronte,” says Bob Holloway, now 71. “It was before the ocean outfalls were put in and there used to be a yellow river of sewage at the beach. It was nothing like what it is now.”
He and Kay, 66, ran the business together for 15 years, and now lease it out to operators. The premises, shop 1, at 491 Bronte Road, is up for auction on March 30 through Mr Buium, in conjunction with Raine & Horne Double Bay’s Patrick Cosgrove, who said shops on the beach strip rarely changed hands because it was now such a popular spot for beachgoers.
The Holloways will be sad to see it go, but are keen to spend more time travelling. “We used to have a bit of a social time in the shop there,” Mr Holloway said.
“Scott Morrison used to come in a couple of times a week and the former deputy prime minister Tim Fischer. We had a lot of celebrities coming in too, including people like Heath Ledger.
“I suppose $2 million is a lot of money, but that’s probably the kind of price you’d pay for just a garage for your car down there [at Bronte] now. We’ll see what happens at auction.”