Iconic Bar Restaurant, superbly positioned in Leichhardt
Stock Included: —
Stock Value: —
Years Est: —
Gross Revenue: —
Business Headline : Iconic Bar Restaurant, superbly positioned in Leichhardt
Price : $321,000
Category : Food/Hospitality, Accommodation/Tourism, Alcohol/Liquor, Hotel, Cafe/Coffee Shop
Unique commercial opportunity for a savvy Sydney hospitality operator
This is a rare chance to acquire a vibrant street bar restaurant plus party function venue in Sydney’s inner west. Bar is regarded as one of the best party rooms in Sydney. The operation is well established and profitable. The venue is a very popular and a highly regarded local institution, bringing you the best of LIVE Entertainment Sydney has to offer every week, hosting all your Private functions and special occasions.
As it stands, the business operates one evening per week (Saturday nights) and it is very profitable trading just one evening.
This gives an incoming purchaser a vast array of potential new commercial opportunities.
- Inspiring modern fit-out over 250m2.
- The ground floor footprint is located in arguably the best location on Norton Street Leichhardt, in between Norton Plaza shopping centre and the Palace Norton Street Cinema.
- Bar has capacity for 200, offering creative cocktails, local craft beer plus spirits and wines.
- Food offerings include authentic Mediterranean and Middle Eastern share plates that beautifully compliment beverage options.
- Trading hours Saturday evening 8pm to late (can be extended)
- Modest rent $150K per annum exc GST.
- Lease term June 2027
- Bar has approved outdoor smoking area.
- Strong social media base and outstanding feedback from online review platforms.
- Social media elements are 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 strong reputation.
- All systems and processes, licenses, certificates and approvals have been set up by owner who is a renowned pioneer in the small bar movement in Sydney. Bar is fully operational, compliant and expertly set up.
- Fully equipped kitchen. Furniture and fittings included. Quality sound system.
- Opportunity for savvy marketer to ramp up the promotions and social media platforms to increase venue profile for weddings, engagement, launches, luncheon events etc
- Venue could easily be reconfigured and rebranded according to the new owner’s focus.
- The functional kitchen could easily support a variation in the current menu based on owner’s creative ambitions.
- EXTEND DAYTIME TRADE - The front section of the site would entertain a great new street Café with outdoor seating. Norton Street is one of Sydney’s Café precincts, and the position would be ideal for a 7-day concept Cafe.
- EXTEND EVENINGS: Trade as many evening as desired with a catalogue of tested entertainment ideas and concepts eg *Live Jazz & Blues matched with American Craft Beers *Ribs & Burgers (Blues Brews & Rib night) *Electronic Musical Tributes: Bob Marley: matched with Caribbean Bar and Jamaican Food *Stand up Comedy events etc
To receive further information please complete the below registration: http://www.abbagroup.com.au/?p=4890513#enquire-now
Annual Rent : $160,000 - Weekly Rent : $3,077
Annual Turnover : $907,000 - Weekly Turnover : $17,442
Annual Gross Profit : $708,000 - Weekly Gross Profit : $13,615
Annual Ebit : $301,000 - Weekly Ebit : $5,788
Premise : Leased
Lease Commencement : Jun 2017
Lease End : Jun 2022
Lease Option: 5 years
Current Outgoings pa: $3,000
Total Land Area : 250 Square Metres
Total Floor Area : 250 Square Metres
Total No of Parking : 1
Franchise : No
Approximate Stock Value : $10,000
Year Purchased : 2018
Year Established : 2016
Days Trading : 1
Staff : 1 Full Time - 15 Casual
Staff Salaries : $202,000
Reason for Sale : Other interests
Location : Leichhardt
Business Potential : - Open outdoor section at rear for Shisha - Opportunity for savvy marketer to ramp up the promotions and social media platforms to increase venue profile. Venue could easily be reconfigured and rebranded according to the new owner’s focus. The functional kitchen could easily support a variation in the current menu based on owner’s creative ambitions. EXTEND DAYTIME TRADE - The front section of the site would entertain a great new street Café with outdoor seating. Norton Street is one of Sydney’s Café precincts, and the position would be ideal for a 7-day concept Cafe. EXTEND EVENINGS: Trade as many evening as desired with a catalogue of tested entertainment ideas
Parking Comments : 1 car - Street parking