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Market Wrap: Chinatown's Teahouse toasts new owner in $3m deal

Property Markets / Transactions

Australia

Feb 06 2018

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Simon Johanson, The Sydney Morning Herald

SALES

Melbourne

A popular Chinese restaurant in the tightly-held Chinatown precinct, under the same ownership for almost two decades, has sold for $3.106 million. Teahouse At Chinatown at the ground level of the Punt Hill Apartment Hotel at 11-17 Cohen Place achieved a per square metre rate of $11,500, CBRE’s Lewis Tong said.

Cheltenham

A local developer has snatched up four permit-approved properties for $6.5 million before they hit the market. The 2867 sq m corner allotment at 1-2 Moola Street and 4-6 Barker Street can take up to 49 units. Savills Australia’s Julian Heatherich brokered the deal.

Go to The Sydney Morning Herald and read the full story.

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