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Back to uni for ST. ALi coffee graduate

Now he has signed an eight-year lease on a 16 sq m hole-in-the-wall space which has a 56 sq m outdoor deck.

Fitzroys manages the uni’s retail across several campuses and has recently leased spaces at the $200 million revamp of the College of the Arts, which the University has turned into the new Faculty of Fine Arts and Music.

Mr Lockwood used the agency’s hospitality database to target quality coffee operators.

“That resulted in lease negotiations with ST. ALi within 24 hours of the space hitting the market,” Mr Lockwood said.

Mr Berry said the handover takes place in July with a two month fitout to follow.

“There are provisions in place if they can’t open then,” he said.

Meanwhile, the campus’ new cafe, Betwixt was due to open this week for takeaway service.

Other recent leasing deals include Axil Coffee at the new Webs building in Parkville, and Mr Ed Café at the Werribee Veterinary and Agricultural Sciences Campus, an offshoot of the Four 10 Hospo Group which also runs Leroy’s Café in Newport.

Exhibit overhaul

Sometimes, perusing the list of fresh development applications to the City of Melbourne yields unexpected results.

This week, property giant Invesco applied for a permit for demolition and building works at its 321 Exhibition Street tower which was completed in 1990.

But no, the US-owned property company is not planning to knock over the 20-storey tower.

It’s applied for a permit to revamp its lobby and build new end-of-trip cyclist facilities out the back off Evans Lane.

Providing new facilities will become more important than ever in the prospective post-Covid-19 world of work when it’s likely more people than ever might be riding their bikes.

A loss of six car spaces will yield an increase in bike storage to 151 from 142.

The lobby revamp involves new revolving doors on Latrobe Street and a large scale public sculpture.

Nino centre

Prolific childcare developer, the Agosta family, is selling another of its Nino Early Learning centres.

The Agosta family is selling another early learning centre in West Footscray.

The Agosta family is selling another early learning centre in West Footscray.Credit:

The brand new creche in West Footscray is expected to sell for around $10 million.

CBRE agents Josh Twelftree, Sandro Peluso, Jimmy Tat and Marcello Caspani-Muto are marketing the purpose built property which sits on 1330 sq m of land at 288 Geelong Road, just 6 km from the city.

Other Nino centres, sold recently, have fetched between $7 million and $16.9 million on yields of 4.2-5.9 per cent, depending on location and operating situation. Expressions of interest close on May 28.

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