DOUGHNUT TIME ROLLS INTO MANLY

DOUGHNUT TIME ROLLS INTO MANLY

DOUGHNUT Time continues its Australian domination, after rolling out another store in Sydney.

The gourmet doughnut chain has inked a five-year lease on its signature hole-in-the-wall style store at The Corso in Manly.

The property, comprising 40sqm retail space and 24sqm basement area, was negotiated at a rental of $125,000 net per annum.

CBRE agent Toby Silk negotiated the lease deal on behalf of private lessor Nick Nicolaou.

He says the property is positioned to capitalise on the high volume of foot traffic from the Manly Ferry.

"Reflecting a strong square metre rate of $3,850 per square metre on retail space, this deal highlights the strength of demand for well-located retail sites in premium locations," Silk says.

"The Corso is one of the most desirable locations for retailers and eateries on Sydney's North Shore, capitalising on the some eight million visitors that travel to Manly each year.

"Doughnut Time saw Manly as a strategic location to expand its growing business, with the area heralded as one of Australia's top tourism destinations."

The newest location marks Doughnut Time's transformation from a single store in Fortitude Valley about 16 months ago, to more than 27 stores around Australia.

Founded by serial entrepreneur Damian Griffiths, the company has also recently teamed up with the Melbourne-based Besen family as an investment partner.

 

Enjoyed this article?

Don't miss out on the knowledge and insights to be gained from our daily news and features.

Subscribe today to unlock unlimited access to in-depth business coverage, expert analysis, and exclusive content across all devices.

Support independent journalism and stay informed with stories that matter to you.

Subscribe now and get 50% off your first year!

Four time-saving tips for automating your investment portfolio
Partner Content
In today's fast-paced investment landscape, time is a valuable commodity. Fortunately, w...
Etoro
Advertisement

Related Stories

EMVision unveils portable brain scanner for first responders

EMVision unveils portable brain scanner for first responders

Founder-led medical technology company EMVision (ASX: EMV) has toda...

Arena REIT to raise $140m amid plans to acquire or develop 10 childcare centres

Arena REIT to raise $140m amid plans to acquire or develop 10 childcare centres

Real estate investment trust Arena (ASX: ARF) has announced plans t...

SunRice acquires SavourLife, a pet food company that donates half its profits to saving rescue dogs

SunRice acquires SavourLife, a pet food company that donates half its profits to saving rescue dogs

SavourLife, a family-owned pet food company that has helped re-home...

DroneShield shares shot down despite record revenue and $1.1 billion pipeline

DroneShield shares shot down despite record revenue and $1.1 billion pipeline

DroneShield (ASX: DRO) shares lost more than 20 per cent of their v...