Little Billy Commits to Wonga Park Village Centre

Restaurateur, the Little Billy Group, has agreed terms on a new lease at the Village Centre in the heart of Wonga park, in a deal negotiated by Savills Australia.

Located on the corner of Yarra Road and Launders Avenue, the property comprises a 600 square metre tenancy leased on a 20 year term with options. The rental was not disclosed however the asking rent was $550 a square metre.

According to Savills Australia Director Retail Services, Michael Di Carlo, who brokered the deal, the tenant required a property with excellent exposure in a location which offered a ready market.

“The owner has expanded the building to offer approximately 600 square metres of floor space to provide the tenant with the room to supply quality deli offerings along with a restaurant and café,” Mr Di Carlo said.

He said the deal represented excellent value for both the owner and the tenant.

“This is a great location for Little Billy in an area crying out for a business of this type,” Mr Di Carlo said.

The lessor is a Sydney based investor.