The home of popular restaurant Copper & Fox expected to sell for $1.9m
A location to ease the appetite of any culinary capitalist, real estate agents have lifted the lid on a popular restaurant in Melbourne’s south east.
South East
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If you’ve wanted to dip you toes into the hospitality market, a popular restaurant in Melbourne’s south east is on the market.
Pakenham’s Copper & Fox dominates a busy corner site and is expected to sell for between $1.8 and $1.9m, Facey Property’s Matt O’Dea said.
“I definitely think it will sell for something in that range, if not higher,” supervising agent, Matt O’Dea said.
“Mostly people have been inquiring online, as well as our existing networks that we’ve put it out to.
“We’ve had a few very strong inquiries on it.”
In prime placement near the renowned Village Lakeside Shopping Centre, the restaurant also has calls Coles, Aldi, and Bunnings as neighbours.
Mr O’Dea said the sellers had owned the property since it had been built, and had decided it was time to move on.
“We’ve managed the building since then too. This will be the first time it’s on the market in a decade, I think.,” he said.
“The couple that wants to sell has owned it for a long time, so they’re looking to sell and do something else with their money,” he said.
Mr O’Dea said interest had been coming more from private investors, rather than commercial.
“This is really a set-and-forget style investment — you can buy it, and let it run itself, and the investors can claim the income from it,” he said.
Other nearby essential services also include Cardinia Cultural Centre and education and medical amenities.
Interest in the secure investment opportunity should be made via expressions of interest before Wednesday August 24 at 5pm
gemma.scerri@news.com.au
