The freehold of a popular restaurant in Melbourne’s Chinatown has sold for $14.5 million off-market.
The latest deal is being struck on a 3.6 per cent passing yield to a Malaysia-based investor.
The property includes a 927 square metre building, constructed in 1987, and sits on a 288 sqm block.
Shark Fin House committed to a 10-year lease at 131-135 Little Bourke Street last year.
“Melbourne has traditionally been an attractive market for Malaysian investors with an affinity which dates back to the 1950s, when Malaysian students began coming to Melbourne,” Mr Tong said.
“Changes in the political environment in Malaysia have driven heightened interest in Australian investment opportunities in the past 12 months”.
Mr Tong added that about 15 per cent of CBRE property transactions in the past year have been to Malaysia-based buyers. Some 40 per cent of buyers originated from Asia, the broker added.
The operators of Shark Fin House also control the nearby Shark Fin Inn and another restaurant in suburban Keysborough.