Sink your teeth into Adriano Zumbo’s property
A South Yarra property leased to Adriano Zumbo is being plated up for sale just months after the celebrity patissier expanded his Melbourne operation.
Zumbo recently signed a new 10-year lease on the space at 21 Daly St, just off Chapel St, and installed two two eateries on the site – Fancy Nance and Little Frankie’s.
The lease is Zumbo’s second in the Chapel St area, after he opened his first Victorian outlet on Claremont St in 2013.
Zumbo now leases the Daly St store, which sits below a number of high-rise residential developments, for just under $200,000 a year, plus outgoings and GST.
Fitzroys agents Chris Kombi and Andrew Hewett will auction the property on November 27.
Kombi says Zumbo has split the space into two distinct cafe and restaurant areas.
“The property is being offered with a brand new 10-year lease over a building area of 410sqm,” Kombi says.
“Adriano is running two businesses from the property under the one lease – a café known as Little Frankie’s and a larger high tea restaurant format known as Fancy Nance.”
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Kombi says the surrounding residential towers mean shops in the area will always have a ready-made client base.
“The property is located in the middle of South Yarra’s high density Forrest Hill precinct,” he says.
“We’ve calculated that there are approximately 3000 workers and residents within a 100m radius of the property. These strong demographics should hold all businesses within the precinct in good stead.”