The property leased to MasterChef star George Calombaris' renowned Gazi and Press Club restaurants is on the market with expectations of around $9 million.

Mr Calombaris' popular restaurants sit across three titles at 2 Exhibition Street and 68-72 Flinders Street, returning about $420,000 net annual rent to the current owners.

The business reportedly attracts more than 170,000 patrons a year, CBRE selling agent Josh Rutman said.

The property is part of heritage-listed former Herald and Weekly Times building which was redeveloped into the 40-storey Ernst & Young office tower.

Other tenants include CBRE, Charter Keck Cramer, ISPT, Jones Lang LaSalle, NAB Private Wealth, Polycom and Qantas.

Calombaris spent $3 million redesigning the restaurants using architects March Studios. The well-known chef also runs his Press Club Projects business from the site which is leased for a 10-year term with fixed annual increases.

"Whilst our landlord may be changing, our longstanding commitment to this corner is unwavering," Mr Calombaris said.

CBRE's Josh Rutman, Mark Wizel and Paul Tzamalis and Fitzroys' Chris Kombi and Paul Burns are marketing the premises.