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Iconic Surry Hills retail property hits the market after 67 years

May 30, 2024

An iconic inner Sydney retail property at 499 and 501 Crown Street, Surry Hills[i], once home to renowned Greek delicatessen "Metanástis" (which translates to "Migrants" in English), is now on the market for the first time in 67 years

Listed by Mr Anthony Bouteris, Director of Raine & Horne Commercial Sutherland Shire the celebrated property is selling for $5.4 million.

“The two properties can be sold in one line or separately and within days of listing we have already received 13 enquiries from a range of investors and business owners interested in moving into the property once the short-term leases expire,” Mr Bouteris confirmed.

“This is a prime retail location, and properties of this calibre can be rare for Inner Sydney and at this price point.”

Mr Bouteris added, “We expect this property to appeal to boutique professional services businesses such as suburban accounting, law firms or financial planners. It can also be refitted as a café or restaurant given its proximity to the light rail on Devonshire Street and the short walk to Central Station.”

Formerly owned by Con and Chrisoula Haritos, the delicatessen was a staple in the community for decades.

Mr Haritos migrated to Australia in 1952 from Greece, followed by Mrs Haritos and their children in 1953. Their son, Mr Harry Haritos, now 82, has decided to sell the property after 67 years to reallocate funds to other family interests.

"Mum and dad bought the property in 1957 when it was a second-hand furniture store. They launched Metanástis immediately, and it remained a delicatessen until the late 1970s," Mr Haritos said.

“The delicatessen was very popular because Dad imported all the produce from Greece, which was a hit with Sydney’s Greek community in the 1950s, 1960s and 1970s.”

Fast forward to 2024, and the shop at 499 Crown Street, which includes three rooms and a bathroom on the first floor is now leased by rug company The Green Room on a short two-year lease for $120,000 per annum, including GST.

Meanwhile, 501 Crown Street that comes with a first floor bathroom and office space is leased by the bookstore Title on a 3x3 lease for $108,679.80 per annum, including GST, with a 4% annual increase.

Mr Bouteris confirmed that the land area for the property is 213 square metres with a net lettable area of 200 square metres. “Both shops also have rear lane access.”

For more information about 499 and 501 Crown Street, Surry Hills or to organise an inspection call Raine & Horne Commercial Sutherland Shire 02 8536 7999.