101 Glebe Point Road, Glebe, NSW 2037 | Commercial for sale | OnTheHouse
 
FOR SALE
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101 Glebe Point Road
Glebe NSW 2037

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The Local Lounge / Bar / Cafe - (Formerly Despana Tapas Bar)

Phone enquiries - please call 1300 594 794 and quote property ID 34110.
A fantastic venue offers a wonderful opportunity. Step back in time at Local Lounge, Glebe's global fusion Restaurant & Bar. Channeling a speakeasy vibe. Exposed brick walls & plush banquette seating create an intimate , retro atmosphere
Recently rebranded, Local Lounge offers a welcoming, rustic atmosphere
Location:
Situated on a main road shopping strip, amidst other eateries and close to the vibrant Glebe Markets, Local Lounge is ideally positioned to attract a steady stream of customers.
Features:
* Established Reputation: Over 12 years in operation - current owner managing it for the past two years.
* Asset Sale; includes all fixtures, fittings, equipment.
Key items:
* Full commercial kitchen with char grill, stainless steel benches, multiple under-bench fridges, freezers.
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Property Details for 101 Glebe Point Rd, Glebe

Building Type
Commercial
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About Glebe 2037

The size of Glebe is approximately 1.7 square kilometres. It has 14 parks covering nearly 17.1% of total area. The population of Glebe in 2016 was 11532 people. By 2021 the population was 11680 showing a population growth of 1.3% in the area during that time. The predominant age group in Glebe is 20-29 years. Households in Glebe are primarily childless couples and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Glebe work in a professional occupation.In 2021, 35.10% of the homes in Glebe were owner-occupied compared with 34.80% in 2016.

Glebe has 8,014 properties. Over the last 5 years, Houses in Glebe have seen a 49.11% increase in median value, while Units have seen a 26.72% increase. As at 30 November 2025:

  • The median value for Houses in Glebe is $2,627,540 while the median value for Units is $1,248,948.
  • Houses have a median rent of $900 while Units have a median rent of $750.
There are currently 20 properties listed for sale, and 37 properties listed for rent in Glebe on OnTheHouse. According to Cotality's data, 236 properties were sold in the past 12 months in Glebe.

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© Copyright 2025. RP Data Pty Ltd trading as Cotality (Cotality). All rights reserved. No reproduction, distribution, or transmission of the copyrighted materials is permitted. The information is deemed reliable but not guaranteed.

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