POPULAR restaurant Milky Lane has proved its appetite for the NSW suburb of Crows Nest by securing a 5+5-year lease at 70-76 Alexander Street.
The asset, that came with a 300sq m* site area, was a ground floor retail area that was vacant prior to the deal.
The lease was secured off-market by Ray White Commercial Lower North Shore Retail and Commercial l Projects and Developments David Collard.
Mr Collard said the deal was achieved by a strategic and targeted off-market campaign that focused on matching the right tenant to the asset.
“We knew this was a strong precinct with a history of successful restaurant and food retailers so we worked hard to pinpoint people who would be interested in such an attractive opportunity,” he said.
“Once the right tenant was identified, negotiations took place and Milky Lane put pen to paper on a 5+5-year lease at $180,000 p.a.”
*Approximately.
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