About the Business
The waterfront bar and restaurant located on the busy and touristy boardwalk strip of Honeysuckle Drive near Newcastle Museum, Rydges Hotel and Visitor Information Centre.
The business opened in 2013 and has been operating under the helm of the Owner who has more than 20 years’ experience in the hospitality and in Honeysuckle area.
This is a well-established and profitable business and has the potential to grow a lot more in coming years based on the current major residential and commercial developments in Honeysuckle Drive.
Rarely you will get this opportunity to own or run an established waterfront bar that is well-known to the Newcastle people and has potential to grow with you!
Average of last 10 Month Sales is $111,831 per month and with an average adjusted profit of $16,100 per month.
Wed – Thur: 12:00PM – 9:00PM, Fri-Sat: 12:00PM – 11:00PM, Sun: 12:00PM – 9:00PM and Closed Monday – Tuesday & Public Holidays.
4 x Full-time (Managers, Head Chef & Chef), 2 x Part-time & 6 x Casuals.
New Lease commenced April 2023 with 5 years + 5 option therefore expires April 2033 with CPI annual rent review and 6 month bank guarantee.
Base Rent $103,093.77 + GST per annum.
Strengths & Potentials
✓ Incredible prime waterfront location that guarantees to be there for another 10 years under new lease.
✓ The only F&B venue in the surrounding that offer a unique intimate and fun experience.
✓ High volume of applicants wanting to work at this bar when advertised for a position on Seek.
✓ One of the best received Reviews (Google, TripAdvisor & Facebook) with 4,500 Followers on Instagram and 7,200 Followers on Facebook page which providing an extensive engagement and influence.
✓ Large under covered and outdoor seating to accommodate large crowd and bad weather conditions.
✓ Potential to extend trading hours and days for visitors to the area and students from Newcastle University.