Own a piece of Italy in Sydney's revived Norton Street precinct
With freshly scooped gelato and the rich, comforting aromas of Italian cuisine, diners at this Sydney restaurant could easily mistake their surroundings for the piazzas of Venice, Florence or Rome.
A rare opportunity in the heart of the Italian Forum in Norton Street, Leichardt, awaits a savvy owner-operator or investor.
Currently operating as Valenti’s Restaurant and Cafe, 26/23 Norton Street is fitted out and ready for its next owner to walk in and take over operations from day one.
Norton Street, just five kilometres west of the Sydney CBD, has become a vibrant hub embracing food, culture and community thanks to the many Italian immigrants who settled in the Inner West after World War II.
The Forum’s piazza-style layout encourages al fresco dining, and restaurants, delis, and cafes line the courtyard, where the Italian vibe quickly immerses visitors.
With its paved walkways, small balconies and open-air feel, the piazza replicates a traditional Italian town square right in the heart of Sydney.
Mallouhi Property Inner West director Bill Mallouhi said the Italian Forum was undergoing a revival and opportunities to buy within the precinct were rare.
“This is definitely one of the busiest restaurants in the precinct, and it is an opportunity to buy a commercial asset in the Inner West, close to the CBD,’’ Mallouhi said.
“The Norton Street precinct has been revived, and that is continuing to evolve; the Italian Forum is a really good food hub.
“This is a well performing business and great value, so we encourage buyers to get in now as the area enjoys its revival and before it peaks.’’
The 55-square-metre ground-floor building enjoys a wide street frontage to the piazza, with seating for more than 60 al fresco diners.
“The vendor is highly motivated and this is a great opportunity to buy a fully fitted restaurant where the new owner can walk in and start trading,’’ Mallouhi said.
“It’s a quality modern fit out, with a newly built bar, gelato fridges and with a liquor licence already in place.’’
Mallouhi said the sale of the turnkey property included all fittings, with the highest quality ESP filter system, exhaust mechanism, grease arrestor, stainless steel benches and fridges.
He added that the current fit-out was versatile, making it easy for new owners to introduce their own cuisine or dining style.
Level one of the Italian Forum is home to professional office spaces, with foot traffic from clientele ensuring the restaurant is always a busy hive of activity.
The restaurant enjoys easy access to the neighbouring Norton Plaza and Palace Cinema Complex, and comes with a secure parking space for one car.
The Italian Forum has recently started hosting weekend night markets, with stalls showcasing homemade and artisan goods and live music.
The price guide for 26/23 Norton Street is $480,000.
