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Iconic Surry Hills Bar. Under management.

Business for Sale
SURRY HILLS NSW

Business Headline : Iconic Surry Hills Bar. Under management. Price : $449,000 Category : Food/Hospitality, Leisure/Entertainment, Alcohol/Liquor, Restaurant, Bars/Nightclubs Renowned for it\'s coo

Price $449,000

Iconic Surry Hills Bar. Under management.

Stock Included:
Stock Value:
Years Est:
Gross Revenue:
Business Headline : Iconic Surry Hills Bar. Under management.

Price : $449,000

Category : Food/Hospitality, Leisure/Entertainment, Alcohol/Liquor, Restaurant, Bars/Nightclubs

Renowned for it\'s cool vibe, this is a rare opportunity to acquire an extremely popular venue within Sydney’s style and culture hub. Placed perfectly on the Crown Street strip, the Bar is busy and vibrant. The brand is strong and reputable. The operation is well established & profitable having been created by an industry expert.

The business holds a rare Primary Service Authorisation license – allowing the sale of alcohol without food.

Key Features include:

- Modern, fun and colourful fit-out. Highly visible eye-catching external frontage wrapping a premium Crown Street corner.
- Innovative food menu with beautifully complimenting beverage options……a rum bar showcasing 100 rums from all over the world, seasonal cocktails, international craft beers, sodas and wines.
- Bar has abundant space covering 180sqm with generous seating capacity both in the restaurant and associated bar area.
- Venue hosts live entertainment 5 nights a week; featuring some of Sydney’s best musicians.
- Strong social media base and outstanding feedback from online review platforms.
- Regularly featured in Sydney F&B media (Broadsheet, Urban list etc) editorial lists of Top Cocktail Bars.
- 5,500 Facebook Page followers. Email database 10,000 strong.
- Trading hours 7 days. Monday to Thursday 5pm – 12am and Fri to Sun 12pm – 12am. Outdoor seating until 10pm. Licensed until 1am 7 days.
- All design, branding, social media elements are available and in place to ensure a solid platform of success for the new owner.
- Owner has secured best price contracts for F&B costs, leveraging off their strong reputation.
- All systems and processes, licenses, certificates and approvals have been set up by the owner who is a renowned figure in Sydney’s bar venue scene. Bar is fully operational and compliant.
- Generous 6 years secure lease (1 Year + 5 Years option). Very competitive / under market rent equates to 10% sales.
- FY18 Sales = AUD $1.8 Million
- Full accountant prepared financials are available. Contact broker for financials.

Potential

- Running as a managed-business, significant upside can be enjoyed by an owner-operator.
- Increase trading capturing increased revenue and profit. Potential for growth can be realised through extended trading hours for breakfast/brunch/lunch, or extended night-time trading to utilise the 1am liquor license.
- The very large kitchen could easily support a variation in the current menu based on owner’s creative ambitions.
- Grow catering and increase corporate function trade. Potential to build on event and venue hire revenue as this is a highly desirable and unique site for large private functions or product launch events.
- Further develop a thriving brand through coffee, fresh juices and brunch offerings.
- Set up and offering Deliveroo, UberEats.





To receive further information please complete the below registration: http://www.abbagroup.com.au/?p=4812507#enquire-now

Annual Rent : $179,972 - Weekly Rent : $3,461

Annual Turnover : $1,782,000 - Weekly Turnover : $34,269

Annual Gross Profit : Not Disclosed - Weekly Gross Profit : Not Disclosed

Annual Ebit : Not Disclosed - Weekly Ebit : Not Disclosed

Premise : Leased

Lease Commencement : Dec 2014

Lease End : Dec 2019

Lease Option: 5 years

Total Land Area : 180 Square Metres

Total Floor Area : 180 Square Metres

Franchise : No

Approximate Stock Value : $17,500

Year Purchased : 2015

Year Established : 2015

Days Trading : 7

Staff : 3 Full Time - 10 Casual

Staff Salaries : $653,980

Additional Notes : The premises is located on Ground Floor and basement, with the basement housing an office and storage area.

Reason for Sale : Divestment for other projects

Location : Surry Hills

Business Potential : • Running as a managed-business, significant upside can be enjoyed by an owner-operator. • Increase trading capturing increased revenue and profit. Potential for growth can be realised through extended trading hours for breakfast/brunch/lunch, or extended night-time trading to utilise the 1am liquor license. • The very large kitchen could easily support a variation in the current menu based on owner’s creative ambitions. • Grow catering and increase corporate function trade. Potential to build on event and venue hire revenue as this is a highly desirable and unique site for large private functions or product launch events. • Further develop a thriving brand through coffee, fresh juices and brunch offerings. • Set up and offering Deliveroo, UberEats.

Contact Seller

Contact: Eddie Spurr
Phone: 1300064944
Mobile: 0417251015

Bsale ID: 217539
Agent ID: 4812507




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