Melbourne, 23 April 2015 –CBRE has been appointed to sell the freehold occupied by renowned Collingwood butcher Jonathan’s in a move that marks the end of an almost 40-year era.
CBRE agents Rorey James, Tom Tuxworth and Jackie Hanna have been appointed to sell the 122 Smith Street property, which has been home to Jonathan’s for 39 years.
Established at the Smith Street site in 1976 by Jonathan Gianfreda, the business continues under the current management of Joe Mittica and Claude Barbon.
Mr James said the property represented an outstanding investment opportunity.
“Rarely does the opportunity to acquire an award winning butcher in such a prime location present itself,” Mr James said.
“Operating as Jonathan’s for close to four decades, this family-grown business is a Smith Street icon and Collingwood institution.”
Mr Tuxworth said the property was expected to attract strong interest from investors and smaller developers.
“With outstanding Smith Street exposure and close proximity to the Melbourne CBD, there is significant scope for future repositioning and development, which is likely to be a major drawcard attracting both local and offshore investors,” Mr Tuxworth said.
“Furthermore, given the surrounding high density developments being delivered in the area, adding more than 2,500 apartments to the precinct, this property could add further value to the growing residential community.”
The two level property will be auctioned at 12.30pm on May 20.
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CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.