‘Eat Street’ retail strata in Neutral Bay sells for $1,332,500

A 61sqm shop in Neutral Bay occupied by popular cafe 5 Loaves 2 Fish has been sold for $1,332,500.

The off-market private treaty sale of Shop 1, 17 Grosvenor Street on behalf of a local investor was managed by Scott Stephens, of Ray White Lower North Shore.

“It’s a fantastic investment in a prime location situated on ‘Eat Street’ in Neutral Bay — just around the corner from the iconic Oaks Hotel,” Mr Stephens says.

The sale to a another local family reflects a net yield of just over 5 per cent.

“5 Loaves 2 Fish has just reopened after commencing a new five-year lease — plus five-year option — in September 2017,” Mr Stephens says.

“The cafe, which completed an extensive fit-out, offers an innovative menu inspired by fine local ingredients and is open for breakfast and lunch.

“The shop is positioned between some of Neutral Bay’s best eateries including Firefly, Grill’d, The Colonial, Woodland, Ribs & Burgers and Kyushu.”