The sale was negotiated by John Petralia and David Brinkley, who said the property generated strong interest thanks to its location, visibility and rare standalone structure in one of Australia’s most visited retail precincts.
“It might be one of the smallest structures on Hastings Street, but it’s certainly one of the most well known,” said John Petralia.
“Its visibility and character have made it a true landmark over the years.”
Originally used as a tour bookings booth, the kiosk evolved with the times, becoming home to various food-based businesses in recent years.
“It’s a high-traffic position with incredible footfall, and that will always appeal to quality operators,” said David Brinkley.
“This sale demonstrates that even the smallest properties can command premium prices when the fundamentals are right.”
The new owners are a well-established coffee business with more than a dozen locations across three states.
“We’re excited to see such an experienced and reputable brand take over this iconic kiosk,” Mr Brinkley said.
“They’re perfectly positioned to make the most of this site’s high exposure and strong customer flow.”
