September 10, Melbourne – The vacant former home of popular St Kilda Vietnamese restaurant Top Mo has sold to an owner-occupier for $1.4 million following an Expressions of Interest campaign managed by Teska Carson.
Located opposite the recently renovated Prince of Wales complex with frontage to one of Australia’s most famous retail strips, the shop 1, 12 Fitzroy Street property comprises a fully fitted, 195 square metre restaurant with a liquor license for 100 patrons and on-site parking via rear access.  Â
According to selling agents, Teska Carson’s George Takis and Stephen Speck, the Expressions of Interest campaign attracted a strong field of local investors and owner-occupiers resulting in a strong $7180 a square metre rate.
``This was a rare opportunity to acquire a fully-fitted restaurant premises on one of Australia’s most popular and tightly held retail strips which has attracted local, interstate and international tourists in their thousands week in week out over many years.
``We had a very high level of interest from investors but also owner-occupiers looking for the sort of location which has the potential to both underpin a successful business and deliver long term capital growth,’’ Mr Takis said.Â
The vendor was a Melbourne based investor.
