China Tea House Chapel Street For Sale

The China Tea House at 352 Chapel Street is one of two businesses run by Mr Che, one of Chapel Street’s longest-standing and most recognised restaurateurs.

Last November, Mr Che leased the 400-square-metre building at a starting rent of $160,000 a year.

The shop has a 9.3-metre frontage to Chapel Street, rear access from Bray Street and is expected to sell for about $3.5million.

CB Richard Ellis selling agent Chris Tsolis said Chapel Street had resisted recent quivers in the commercial property market, with the most recent property selling on a low yield of about 4.5%.

He said retail vacancy rates on Chapel Street are at a low 2.55%.

Generally, a vacancy rate below 6% is considered healthy for the suburban strip retail market.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.

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