Pandora - 1P5011
Stock Included: —
Stock Value: —
Years Est: —
Gross Revenue: —
Heading in off Dorcas Street through the large wooden double doors patrons enter a cavernous ground floor with the dance floor flanked by booths on one side, the long bar the other and the DJ booth in front. Upstairs it seems even larger as there are two bars, a raised DJ booth, mezzanine VIP area and then steps up to the rooftop smoking area.
Both floors can be run completely independently of each other. At the moment the venue has only been operating Friday and Saturday nights but has plenty of scope to utilise the great space on many other nights. The venue has undergone a recent refurbishment and is in good condition.
Pandora has a Late Night On Premises 24 hour licence with a capacity of 560. There are five years left on the lease made up of 1+4 with the landlord willing to negotiate extra terms on transfer. Rent comes in at $2750 a week including GST. The landlord is presently complying with the mandatory code in regards to rental waiver.
The venue ideally suits a team that are already in the business and want to expand their portfolio or step up and can bring promoters and a crowd to a venue that has low overheads and that can capitalise on the large capacity with the potential for considerable income. The owners have taken the eye off things and that was prior to Covid 19, concentrating on other businesses. So there is limited financial information which is why the vendors are only looking for offers in the region of $250,000 for this exclusively listed venue.