Popular Caulfied South meat-lovers restaurant Big Boy BBQ has leased space for its second eaterie at around $1,400 per square metre on Hardware Lane in the Melbourne CBD, which runs between Bourke and Little Bourke Street.
The lease over the 100 square metre premises at 29 Hardware Lane was negotiated by Savills Australia’s state retail director, Michael Di Carlo, in conjunction with Grange Property Consultants.
The premises were previously tenanted by Affogato Espresso Bar.
There are already a number of restaurants on the popular pedestrianised retail strip including Amigos Mexican Restaurant, Grill Steak Seafood Restaurant, The Mill Restaurant, Pugg Mahones and Campari House.
Hardware Lane is a tightly held retail strip with commercial property listings showing no shops currently available for lease.
“Big Boy BBQ was keen to test the market with its offering in the CBD driven by the CBD’s significant recent population growth and the existing office staff catchment,” says Di Carlo
“Consumer spending on restaurants and cafes has also held up very well at a time when retailers generally are feeling the pain of a consumer savings trend and on-line competition.”
The lessor is a Melbourne-based investor.