Aston Commercial are pleased to offer this triple-fronted property located at 44-48 Toorak Road, South Yarra for sale by Public Auction on Friday 18th November 2022 at 12.30pm on-site.
An iconic corner comprising two adjoining buildings with integrated businesses. A perfect investment with long-term upside.
Bar Carolina is located at 44 Toorak Road, corner of Caroline Street, and is an established restaurant venue catering for the local community and beyond. A modern and slick fit-out, the premises have been meticulously refurbished to offer a relaxed environment.
Tetto di Carolina is located at 46-48 Toorak Road and offers an extension for relaxed dining to the bustling Carolina restaurant business on the ground floor and a hip bar/function area on the first floor. The eye-catching retractable roof provides flexible moods depending on the occasion and with a modern bar.
Offered together, 44-48 Toorak Road, South Yarra comprises:
44 Toorak Road (Corner Caroline St), South Yarra Bar Carolina
46-48 Toorak Road , South Yarra Tetto di Carolina
LOCATION
A magnificent location on the corner of Toorak Road and Caroline Street, near Punt Road
in the heart of the South Yarra precinct.
the property
LAND AREA
square metres*
street frontage
50 metres*
Two (2) titles offered as one
Total Rent of $295,446 pa*
by established local and national
engaging customer base.
square metres*
Public Auction on Friday 18th
2022 at 12.30pm on-site
Expire 2031 plus 5 year option
Activity Centre Zone (ACZ) with existing planning approvals for current use
Deposit of 10% of the purchase price balance 60 days from the date of sale
South Yarra is a great suburb that is perfectly situated just out of the CBD. In a way it offers the neighbourhood environment that outer suburbs do, but it also allows you to be in great proximity to things going on and central to whatever you need. Public transport is in abundance with train stations and trams servicing all areas, and who wouldn’t love living in the centre of Melbourne’s best shopping, best restaurants, best night life and entertainment.
From here you can walk to some of Melbourne’s finest spots, the Yarra River, the Botanical Gardens, Fed Square, the city, Southbank and more. Dine on street, people watch, enjoy fashion, glamour and style all day, every day, all year round.
PRAHRAN MARKET
CHAPEL STREET
BOTANIC GARDENS: Established in 1846, the Royal Botanic Gardens cover over 38 hectares and display a vast and diverse collection of plants from around the world, including rare and threatened species.
CHAPEL STREET: Melbourne’s iconic metropolis Chapel Street Precinct. South Yarra, Windsor & Prahran.
PRAHRAN MARKET: The highest quality fruit and veg, the widest range of certified organic produce, sustainable seafood, free-range meat and poultry and more.
YARRA RIVER: The Yarra River Precinct is the vibrant heart and soul of Melbourne’s tourism industry.
FAWKNER PARK: Fawkner Park is a much loved place where a diverse range of recreation and sporting activity is enjoyed in a magnificent setting of significant tree avenues and open, spacious lawns.
SOUTH YARRA STATION: The South Yarra Station Upgrade will create a safer and more accessible space, with improvements to the entrance area and amenities, a new canopy over the station entrance and an accessible tram stop on Toorak Road.
DOMAIN TUNNEL: Major works are underway to support construction of the new Anzac Station which will significantly improve access to the Domain Precinct.
YARRA RIVER
A combined total land area of 310 square metres* comprising:
Total Land Area: 154 square metres*
Total Land Area: 156 square metres*
A triple frontage of 50 metres* and wide Toorak Road frontage of over 11 metres*
Two buildings interconnected by two separate businesses providing a premium hospitality venue. The total building area of 466 square metres* can be apportioned as follows: 44 Toorak Road (Bar Carolina) 154 sqm* 46-48 Toorak Road (Tetto Di Carolina) 312 sqm*
Activity Centre Zone 1 - Purpose: To implement the Municipal Planning Strategy and the Planning Policy Framework. To encourage a mixture of uses and the intensive development of the activity centre: As a focus for business, shopping, working, housing, leisure, transport and community facilities.
To support sustainable urban outcomes that maximise the use of infrastructure and public transport.
To deliver a diversity of housing at higher densities to make optimum use of the facilities and services.
To create through good urban design an attractive, pleasant, walkable, safe and stimulating environment. To facilitate use and development of land in accordance with the Development Framework for the activity centre.
Current Liquor Licences allow:
Bar Carolina - up to 1am trading and 200 patrons
Tetto di Carolina - up to 11pm trading and 90 patrons
Rent $114,915 pa*
Commencement Date
Term
Annual Rent
1, 2016
yrs and 5 mths (Expiry 2031) + 5 yrs
2036)
months
gst
Rent $180,531 pa
Date
Lease Term
Rent
1, 2018
yrs (Expiry 2031) + 5 yrs (Expiry 2036)
months rent plus
Carolina Group is a 25 plus year established Melbourne hospitality group that also owns CBD restaurant classics Marameo and Il Bacaro.
Located at 168-170 Little Collins Street, Melbourne and established since 1995 www.ilbacaro.com.au
Located at 6 Russell Place, Melbourne and established since 2019 www.marameo.com.au
Bar Carolina is their first venture outside of the CBD and has been fashioned as a sophisticated and contemporary southside bar and restaurant, offering Italian bistro-style dining with modern accents.
Rave reviews in many social media platforms from Broadsheet to Gourmet Traveller have reinforced the continued entrepreneurial success of the Carolina Group in South Yarra. These are best described in comments made by one of its Directors to these industry sites:
“You can expect much more to come out of the top end of Toorak Road and I’m thrilled that Bar Carolina will be a key part of it”
“It’s a neighbourhood hub where people can stop by for any reason, be it the aperitivo in the late afternoon sunshine, a twice weekly dinner, or a big celebratory event”.
The success of Bar Carolina quickly morphed into creating Tetto Di Carolina next door which comprises a ground floor Italian wine bar ‘cantina’ and luxurious first floor bar that has an all-season retractable roof. Renowned hospitality designer, Chris Connell (https://www.chrisconnell.com.au/) was appointed by the Carolina Group to create two eclectic venues that capture the attention of a respected foodie community that thrives on an energetic atmosphere.
Chapel Street, PRAHRAN
Chapel Street, PRAHRAN
2020
154 Toorak Road, SOUTH YARRA
DATE:
DATE:
Road, SOUTH YARRA
Chapel St (Cnr Toorak Rd), SOUTH YARRA
DATE:
2022
DATE:
Toorak Road, TOORAK
2021
“Materials” refers to any representations, statements, documents, data, statistics, measurements, estimates, figures, calculations, projections, approximates or otherwise stated by Aston Commercial Pty Ltd whether verbally or in writing. The Materials have been collated to assist potential purchasers for advertising and general information only to assist potential purchasers to decide whether to proceed with further investigation in relation to the property or the land. The Materials provided by Aston Commercial does not constitute any offer or contract of sale and is not to be relied upon prior to signing any relevant contract. Any dimensions or measurements of the property or the land (internal and external) are approximates only and should not be relied upon before signing any contract. The potential purchaser must conduct investigations to satisfy themselves that any Materials provided are accurate. Aston Commercial excludes unequivocally all inferred or implied terms, conditions and warranties arising out of the Materials and excludes all liability for loss and damage arising therefrom.
