Restaurateurs fork out for Double Bay retail
Top Spring Australia has sold three ground floor retail tenancies within the Ode apartment complex, set to replace the Double Bay Plaza at 19-27 Cross Street, on the north west corner of Transvaal Avenue.
In the biggest deal, restaurateurs Christian Verges and Anthony Moustacas have paid $10.01 million for two suites – all up, nearly 300 square metres.
The pair will move their Indigo business from across the road.
They will however retain outdoor seating built into a Transvaal Ave traffic island which divides the two properties.
“We have been in loose discussions with Christian and Anthony for some time,” 1st City Projects’ Brad Caldwell-Eyles, who is marketing Ode’s commercial components with Julian Hasemer, said.
“Things really ramped up after we met and set about designing the footprint, establishing the courtyard dining space and planning the internal lift that will keep all deliveries, produce and refuse contained within the interior confines of the premises,” he added.
“The…space opens onto the new northern plaza,” according to the executive.
It also neighbours the six level InterContinental Double Bay, which Piety Group and Melbourne developer Fridcorp acquired for $178m last May with plans to renovate the already high quality space.
Carte buys in
Meanwhile, Bing Liu has outlaid $5.7m for a 137 sqm Ode retail space.
The chef will open a Carte restaurant there – to complement a popular Glebe one.
“Chef Bing Liu’s fine dining room at the InterContinental Double Bay inspired the concept and the fact that the French for menu – Carte – encompass the word ‘art’” the incoming tenant said (story continues below).
“This perfectly describes our concept of having art and cuisine coexist harmoniously and complementing each other in endless ways,” a representative added.
Upon an anticipated opening in 2025, both Carte and Indigo will via an app offer Ode residents perks including dining vouchers, exclusive eat at home experiences, discount artwork, free classes and access to invite-only events.
Construction is expecting to start early next year.
Ode
Top Spring paid the family of Stephen and Stella Rose $94m for the 1334 sqm site making way for Ode, last September.
The property came permit-ready for the seven storey project, with 18 dwellings, including three penthouses, the biggest spreading 283 sqm, and four retail/commercial tenancies.
Luigi Rosselli is the architect.
The development will also relocate a Transvaal Ave connection.
The retail sales come 20 months since Neil Perry signed a 10 year lease for a 419 square metre space at Fortis’ nearby Pallas House.
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