A ground-floor retail investment in the heart of Melbourne’s CBD has been listed for private sale, offering investors a rare opportunity to secure a high-performing asset with a stable income stream.
Located at 346 Little Bourke Street, the 45sqm property sits within the Nova Building on the corner of Elizabeth and Little Bourke Streets, directly opposite The Strand, Emporium, and Melbourne’s GPO.
The site is positioned in the city’s midtown precinct — a high-traffic retail corridor benefiting from seven-day trading and proximity to key destinations including Hardware Lane, Bourke Street Mall, and Emporium.
The property is exclusively managed by Colliers, with the sale campaign led by Christian Hatzis and Yvonne Zhou. It has an expected sale price of around $2 million (excluding GST).
The space is leased to Waku Waku, a Japanese dining venue that has become a CBD institution since opening in 2021. Known for its Hokkaido Soup Curry, the restaurant consistently attracts long queues and loyal customers.
The current seven-year lease began in July 2022 and delivers approximately $95,613 per annum, with fixed annual rental increases of 4 per cent.
“From an investment standpoint, this opportunity ticks all the boxes, with its prime location, secure lease covenant and proven tenant performance, this property represents a rare chance to acquire a high-performing retail asset in one of Australia’s most tightly held markets,” said Hatzis.
“Waku Waku has built a cult following in Melbourne’s CBD. Their consistent popularity and strong trading performance make this a standout investment opportunity in one of the city’s most dynamic retail precincts,” said Zhou.
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