A restaurant operator has signed a 10-year lease to occupy a whole building in Melbourne’s Chinatown.
The restaurateur has leased a whole building at 11 Heffernan Lane where they plan to open a multi-level food offering across four floors.
The long-term deal was brokered by CBRE’s Zelman Ainsworth, Leon Ma and Tan Thach.
The agents were unable to disclose the rent paid. A figure of $300,000 per annum for the building was quoted during the leasing campaign.
The group will need to substantially reconfigure the building, which was sold at auction last year for $6.3 million to a new owner.
The property was built by Ah Gee in 1892. His cafe, the Wing Ching, was considered the first in Melbourne’s famed Chinatown to be frequented by Westerners.
Once refurbished, the building will be the first four-storey restaurant on a laneway in Melbourne’s CBD, Mr Ainsworth said.
Correction: An earlier version of this article stated luxury brand LVMH was connected with the individuals leasing 11 Heffernan Lane. That was incorrect.