It is the end of an era in Degraves Street with restaurateur Bob Bozinovski quitting Degraves Espresso, after 20 years.
The landlord didn’t have to look far for a replacement tenant, with the neighbour who runs café, The Quarter, Tony Roussos, taking the space.
The term is five years with three five year options, at a starting annual rent of $145,000 ex-outgoings and GST.
Equipment, as well as the business name, is included.
Established by Con Christopoulos, who elsewhere in the city, operates the Butcher’s Diner, City Wine Shop, European, Melbourne Supper Club, Siglo and Spring Street Grocer, Degraves Espresso is one of the city’s most famous laneway cafes, especially popular with tourists.
Next chapter for Degraves Espresso
Fitzroys’ James Lockwood marketed 23-25 Degraves Street, which included the fit out and business name.
“The Degraves Espresso name has a huge amount of goodwill associated with it,” the agent said.
“It’s the archetypal Melbourne laneway café,” he added (story continues below).
“It holds a special place in the city’s celebrated laneway culture,” according to the executive.
“The new operator has been in hospitality for more than 30 years and knows the area very well.
“They’re confident the CBD will return in a big way”.
The agent said operators of other city cafes looked in, since the asset was listed for lease in December.
“People have been waiting to have those quintessential Melbourne experiences again and are voting with their feet,” he added.
“Busy weekends in the CBD have returned and weekly pedestrian traffic is rebounding as people get used to the ‘COVID-normal’ environment”.
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