The revitalisation of Lygon Street has taken another step, with young talent emerging from popular city restaurant Longsong set to open a new modern Asian cuisine venture in the prime of the iconic hospitality and lifestyle strip.

Chris James of Fitzroys negotiated the lease at 263 Lygon Street in Carlton on behalf of a private owner. 

The five-year lease with further options was struck at $83,000 per annum plus outgoings and GST, and the new venture will host diners from the 95 square metre ground floor of the building.

At a glance:

• 263 Lygon Street leased in five-year deal at $83,000 per annum plus outgoings and GST
• The 95 square metre ground-floor space will host diners in new Asian restaurant
• The deal is a sign of confidence in the rejuvenation of the historic restaurant strip, says Fitzroys

The partners of the new venture, Lagoon Dining, were key talent involved with Thai CBD restaurant Longsong. They include Chris Lerch, venue manager of Longsong - the bar above Longrain - and former manager of Flinders Street fine dining spot Ezard, and Longsong head chef Ned Trumble.

“We’ve seen a new generation of bar and restaurants add a fresh twist to Lygon Street and Carlton’s hospitality scene,” James said.

“This venture will bring modern Asian cuisine to the heart of Lygon Street, near D.O.C. Espresso and The University Café, further enhancing the mix of the iconic Italian influence synonymous with Lygon Street and Carlton and a new breed of hospitality offerings that are revitalising the strip.” 

Other recent entrants include Heart Attack and Vine, Israeli-influenced vegetarian pub Green Man’s Arms, the recently re-opened King & Godfree building, wine bar Lord Lygon and Hakata Gensuke, while in the immediate surrounds are The Carlton Wine Room and DOC Pizza & Mozzarella Bar.

James said the long-term lease in the prime section of the strip reflects the operators’ confidence in the transformation of Lygon Street.

James and Fitzroys colleague Terence Yeh have also been marketing 259-261 Lygon Street next door, which is under offer. 

“Melburnians are living in and going out across the inner suburbs in growing numbers and Carlton is no exception, having also seen an influx of young professionals and students living in the immediate vicinity,” James said.

“This has added huge depth to the immediate catchment of Melbourne’s best-known restaurant strip, and demand is growing for more distinct offerings that have enhanced its unique character.”

Lygon Street was the first precinct to offer Melburnians a European-style dining experience with strong connections to Melbourne’s Italian community.

Today it is underpinned by the growing university and student population and its central location immediately to the north of the CBD attracts both tourists and locals to the restaurant strip.

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