A large single level building that is occupied by the well renowned venue known as ‘Howler Bar’ in Brunswick for sale by JLL Directors of Capital Markets- (VIC), Nick Peden, Jesse Radisich and Associate, MingXuan Li have been appointed to sell 16 Michael Street via a public auction.

The 905 sqm property has a high-quality modern fit out and is expected to sell for more than $3.3 million.

Currently, 16 Michael Street generates a net income of approximately $104,000 per annum and Howler Bar have recently renewed a new five-year lease agreement. Howler Bar has been in occupation for the past 10 years, demonstrating a testament to the success of the operation in this location.

The significant landholding of 905 sqm has frontage to Michael Street plus second frontage to rear laneway. The favourable Mixed Use Zoning allows for a variety of end uses including residential, commercial and retail (STCA).  Flexible planning parameters provide scope for at least 25 metres (8 levels).

Mr Peden said, “The Brunswick residential population is growing with many apartment projects underway. Michael Street is becoming a high-profile development hot spot, with significant apartment projects already completed and further projects planned.”

“16 Michael Street is perfectly positioned just off the Sydney Road retail strip and the property will undoubtedly appeal to investors and land bankers seeking a large landholding and secure income with the certainty of a long-standing and hugely popular operator as the tenant,” Mr Peden said.

Mr Radisich said, “The Sydney Road retail strip is one of Melbourne’s most vibrant and eclectic retail precincts.  Underpinning the precinct is the Barkly Square Shopping Centre, which provides a Coles, Kmart, JB Hi-Fi and is positioned just 300 metres from Michael Street.  The strip is home to a wide array of fashion, hospitality, and service retailers, including Woolworths, Aldi and Bunnings.”

Public auction for 16 Michael Street, Brunswick will be held on-site at 16 Michael Street, Brunswick on Thursday 12th of August 2021 at 12:30pm. 

To request a copy of the Information Memorandum please contact one of the marketing agents via the contact form below.