A private investor has purchased a 28sq m ground floor retail shop, which is part of a 10 storey apartment block at Lot 1, 21 Alberta Street, Sydney from Steven Fragias & Gerasimos Fragias for $910,000 on a 5.16% pa passing yield.

Commanding a prime position on the corner of Alberta Street and Nithsdale Lane at the southern end of the CBD, the shop is leased to Cre Asion café on a new five year lease, with a five year option and offers 3.95sq m of outdoor seating area.

The deal was negotiated prior to auction by Robert Lowe and David Hickey of Savills Metropolitan & Regional Sales. Robert said the long standing tenant has run a highly successful business for the past six years and also operates the recently acclaimed Japanese restaurant from an adjoining commercial tenancy know as Sasaki.

The corner shop is surrounded by floor to ceiling windows that attract optimum natural light, coupled with the exposed concrete façade and modern timber fit out the shop presents itself as a high class offering in a CBD location. Nithsdale Lane is closed to traffic, which allows the premises to benefit from additional seating and is surrounded by commercial offices and residential apartments that provide significant customer intake for the café.

Enviably located, this quality retail shop is located within a short walk to Liverpool Street, Wentworth Avenue, George St, Haymarket, Hyde Park, Oxford Street, Central Station and St James Station.