1806 - 1P4623
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Stock Value: —
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From the velvet curtains to the gleaming chandeliers and historic drinking paraphernalia, 1806 is a loving shrine to the cocktail. Located on Exhibition St in the CBD and judging by the reviews and rarely an empty chair, it is clearly one of the best cocktail bars in Melbourne.
The venue itself is freestanding made up of four levels and a rooftop. Patrons are met at the door on the ground floor and shown through to an opulent lounge with red velvet and leather chairs and a dark wooden decor. Down the length of the room is the bar with a stunning floor to ceiling wall of a variety of spirits. Upstairs is a mezzanine that can be booked privately and from anywhere you sit the bar down below and the magic being created can be seen. You head down to the basement to find the Understudy. A private room with its own bar and stylish decor that is used primarily for functions. Besides its incredible range of cocktails, 1806 is also well known for providing unique experiences such as their Cocktail Masterclasses and Whisky Experience.
To support the venue in the basement there is a fully equipped commercial kitchen with cool room. Running between all levels are two flights of stairs. One for patrons and one for the staff. The latter that greatly helps the nightly management of the venue. On the 4th level of the venue there are staff rooms, offices, storage and a potential to expand the business. Above this is access to a large roof top area that can also be developed.
1806 has a late night on premises licence until 5am with a capacity of 160 and has been using its Limited Licence recently for take away and delivery. Rent comes in at $2800 a week including GST. There are currently seven years remaining on the lease made up of 2+5 with a further ten years available from the landlord to be negotiated on transfer of the lease. With an extensive fixture and fittings list the whole venue is in excellent condition.
1806 is run completely under management with the vendors living over two hours away. They visit the venue only on an occasional basis. The venue is ideally suited for an investor who wants an excellent passive income. 1806 was making an excellent profit prior to Covid 19 and will continue to do so in the future. 1806 has an outstanding team in the venue as any visitor will see and they all plan to stay. The financial information is comprehensive as you would expect and so the vendors are looking for offers in the region of $750,000.