Melbourne’s iconic Flinders Lane continues to attract seasoned operators, with the recent sale of the ground floor space at 333 Flinders Lane reinforcing the precinct’s enduring appeal.
The 304 sqm property sold for $1.9 million last week, following a lively auction campaign led by Anthony Kirwan, Jack Cooper and George Davies of Cushman & Wakefield. Despite the property being passed in at auction, negotiations commenced immediately, resulting in a successful deal within hours.
The purchaser was Cha Ching Group, an established Melbourne hospitality operator that already runs two restaurants on Flinders Lane. The group saw strong strategic value in the property’s position among some of the city’s most recognisable dining destinations and plans to expand its local footprint.
Anthony Kirwan of Cushman & Wakefield said, “The property was taken to auction and drew an impressive crowd of around 70 onlookers. The campaign attracted 48 enquiries and 8 inspections, with interest spanning office, retail, showroom, medical, education, and hospitality sectors.
“While the property required a full refurbishment, its location and potential proved compelling for owner-occupiers”.
Jack Cooper of Cushman & Wakefield said “This sale highlights the resilience of Melbourne’s CBD retail strata market and the continued demand for well-positioned assets, even those requiring significant capital works.
“This sale is a clear indicator that Flinders Lane remains a magnet for operators seeking high-footfall, character-rich spaces in the heart of the city” he said.
