Celeb chef Neil Perry’s Jade Temple premises for sale

The Sydney property leased to Neil Perry’s Jade Temple restaurant is up for auction.
The Sydney property leased to Neil Perry’s Jade Temple restaurant is up for auction.

The Sydney premises of celebrity chef Neil Perry’s newest restaurant Jade Temple has been listed for sale.

The restaurant at Lot 2, 7 Bridge St in the CBD, is positioned within the historic Burns Philp & Co building and will be home to Perry’s venture until at least 2023.

Perry’s Rockpool Dining Group pays almost $600,000 annually for the space, with 5.5 years remaining on the lease and a further two five-year options available.

Commercial Insights: Subscribe to receive the latest news and updates

A Sydney family bought the property three years ago for more than $8.5 million.

Jade Temple Neil Perry Sydney

The restaurant within the heritage-listed Burns Philp & Co building.

JLL’s Steven Tsang, who is marketing the property in conjunction with colleague James Aroney and Knight Frank’s Andy Hu, says there are few finer locations for dining in Sydney.

“Lot 2, 7 Bridge St is one of the most iconic restaurant spaces in Sydney, currently tenanted to one of Australia’s most celebrated chefs. Investors who are looking for a prime retail investment to add to their portfolio would be hard pressed to find a more distinguished proposition,” Tsang says.

Spanning 490sqm of floorspace, Jade Temple has huge ceilings, stunning Asian decor and decadent finishes throughout.

Neil Perry Jade Temple Sydney

The restaurant features ornate, Asian-inspired decor.

Hu says competition for the asset is expected to be very strong when it goes to auction.

“Prime retail space in Sydney is very tightly held – we only see around eight to 10 prime retail properties listed on the market each year, and very rarely of this calibre,” he says.

“This is an incredible opportunity for the right investor and as such, we expect a very high turnout at auction.”

Jade Temple Neil Perry Sydney

The property goes to auction on March 15.

Buyers have historically been prepared to pay top dollar for a property that houses one of Perry’s venues.

In 2016 the home of his Rockpool Bar & Grill was snapped up for almost $30 million by fund manager Allegra ­European Holdings.

The Jade Temple property will be auctioned on Thursday, March 15.