Cochin Wine Bar and Restaurant, Richmond, building for sale
The character-filled home of Richmond’s Cochin Wine Bar and Restaurant is up for grabs for the first time in more than 50 years.
Owned by its sellers since the 1960s, the 180sq m site at 256 Swan St was run as a Greek restaurant for many years by the family, some of whom lived upstairs.
But it’s been the “casual but slick” Cochin for at least five years, bringing in $67,295 per annum net, with annual 3 per cent increases.
The restaurant and bar, run by Bruce Dowding and Jason Baker, specialises in French Vietnamese tapas-style dining and French wine.
It will continue to operate, with the property to be sold subject to a five-year lease to the venue, with two further five-year options.
The space includes an open-plan 145sq m ground-floor with a large seating area, bar facilities and commercial kitchen.
The 85sq m first-floor includes a large staffroom, a storeroom and a manager’s office.
Teska Carson director George Takis said the market was currently considering $1.75m upwards for the property, zoned Commercial 1 with 8.2m frontage to Swan St and rear access.
“The property represents an outstanding acquisition opportunity in a precinct which has seen a continuous upsurge in popularity due to the attraction of high-profile retail, residential and commercial developments,” he said.
“The location also benefits from all the essential amenities in proximity including excellent public transport, trains and trams, recreational facilities and major arterial routes.”
Fellow agency director Larry Takis said the land was in City of Yarra’s Swan St Structure Plan, which identified the popular stretch as a major activity centre.
This provided a framework for development including building heights up to three levels, “encouraging a diverse mix of uses including retail, residential, commercial and industrial”.
It heads to auction on October 1.
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