Are you looking for a location for your next hospitality business?
If so then you will be calculating the startup costs and discovering how hard it can be to secure trades and how expensive everything is at the moment. A great alternative is to have a look at this absolutely gorgeous fitout located in an Inner South suburban shopping centre that could tick all of the boxes that you are looking for. Here are a few key points;
* Presents immaculately with high quality fixtures and fittings and top end commercial appliances.
* Fully licenced with beer taps and soft drink dispensers
* Cost of occupancy under 5% of turnover with current tenant achieving sales in excess of $50k per week
* Original fitout cost in excess of $1M
You would normally expect to pay hundreds of thousands of dollars for a business like this but as my clients have operated the business successfully for over 8 years they have a strong personal connection to the brand and therefore have decided that they are not going to transfer the goodwill of the business and sell the fitout only.
The premises enjoys an attractive front of house that was designed by a prominent local architect, a fully commercial open kitchen, plenty of refrigeration and storage and a large upstairs section that is currently used as a dry store and office but could be converted to a function room. There is also a space upstairs with its own access that is currently subleased to a separate business that offsets part of the rent.
As a hospitality broker I have noticed that these suburban shopping centre locations have not only survived but have flourished in recent years with more people were working from home. They also have less competition, plenty of parking and a captured market of loyal locals who come back time and again.
I believe that this is an opportunity for a strategically smart purchaser to pick up a fully licenced cafe, bar and restaurant capable of amazing sales at an attractive price in a fantastic location.
Lease
The current lease is a 4x3x3 term that commenced in 2018. The current rent is $9,897 per month gross but only $7,714 plus gst and outgoings once the sublease is taken into consideration.
