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Located just off the bustling Chapel and High Street junction, Pescato offers buyers a rare opportunity to secure a rebuilt restaurant in one of Melbourne's most sought-after hospitality precincts. Recently relaunched after a complete refurbishment, the venue is regrettably being offered for sale due to the vendor's unexpected need to return to Italy-creating an exceptional chance for an incoming operator.
The restaurant features footpath trading for six patrons on Chapel Street, with floor-to-ceiling windows that showcase the space and flood the dining area with natural light. The venue is stylishly fitted with a subtle seafood-inspired décor, though its clean, modern design can easily suit any cuisine. A standout feature is the open-plan commercial kitchen, fully equipped and overlooking the dining room, ideal for operators who value visibility and workflow efficiency. At the rear, the venue includes two storage rooms, customer toilets, and access to a shared bin area.
Pescato has a Restaurant and Cafe Licence until 1am with a capacity of 40. It is only in the first year of an eight year lease made up of 4+4. Rent is $1200 a week including GST. Except for the ship all fixtures and fitting are included in the sale and there are no equipment or supplier contracts to be transferred. Everything in the venue is just about new.
As the business is newly established, there are no trading figures available. However, the offering represents exceptional value: a brand-new fit-out, an A-grade Chapel Street position, and low overheads relative to the location. The site is perfectly suited to an owner-operator looking to bring their concept to life-whether continuing with seafood or transforming the space to another cuisine with minimal effort. The business is being sold on a walk-in walk-out basis, and the vendors are realistic and motivated.
