Rose Bay home of MasterChef Josh Niland’s famous fish restaurant up for auction
The Rose Bay building that houses MasterChef Josh Niland’s famous fish restaurant is up for auction — and it looks like a great catch!
The strata shop at 670 New South Head Road has a long-term lease in place with Charcoal Fish, which is operated by renowned Australian chef Josh Niland.
The award-winning Niland has appeared on MasterChef Australia and has amassed more than 250,000 followers on Instagram.
Having launched fine dining restaurant Saint Peter and takeaway store Fish Butchery in Paddington, Niland’s latest creation provides high-quality eat-in/takeaway seafood options.
The 79 sqm property has a five-plus-five-year lease which started in April and comes with price expectations of circa $1.25 million ahead of the December 9 auction.
With a net rental income of $58,300 per annum and an annual 3 per cent fixed increase in place, Colliers’ agent Matt Pontey, who holds the listing in conjunction with Grant Whiteman of Ray White Commercial Eastern Suburbs, believes buyers will be attracted to the security of the asset.
“The eastern suburbs market has demonstrated over the course of the pandemic to be incredibly resilient as capital has flowed through to well-established markets.
In what is a very tightly held market with limited transactions year-on-year, this investment will provide peace of mind thanks to the benefit of a proven operator with a very strong following,” Pontey said.
“For investors who are searching for yield it’s a great entry point, especially for those seeking a stable long-term acquisition,” Whiteman added.
Rose Bay is currently seeing strong growth with new developments such as Residences by Clutch Capital and The Benson by Fortis delivering much needed residential accommodation to the precinct to meet growing demand.
This increase in boutique residential products is in turn fuelling the demand for quality food and beverage offerings like Charcoal Fish.