306-308 Lygon Street, Carlton

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DiMattinas’ Carlton Restaurant Changes Hands

Prominent Melbourne football and hospitality family the DiMattinas, have disposed of their Lygon Street, Carlton, restaurant – eight months after it was listed for sale with another agency.

The off-market deal for 306-308 Lygon Street is understood to have been struck at about $5 million, reflecting a yield of about 5 per cent, based on the $250,000 annual rental return. The property was withdrawn from the market late last year after it passed in at auction on a vendor bid of $5.2 million.

ICR Property Group’s Raff De Luise confirmed his agency handled the sale when contacted. He said the number of off-market deals has increased greatly in Melbourne this year.

The DiMattina family also operates Il Gambero on the Park in Lygon Street and Society Restaurant on Bourke Street and is involved with the Blue Train Cafe in Southbank.

The Age – Saturday 20th June 2015 – Commercial Realestate, Capital Gain Section