Situated in a grand building, with an impressive façade, this established restaurant is currently run under management with the owner completely hands off. It is a destination for locals as well as benefiting from a large number of commuters and visitors to the area. This restaurant boasts a strong online presence and following, with frequent mentions by local media and fans alike.
A perfectly positioned Restaurant on a very busy street, with no discernible competition. Primed and ready for a new operator to continue to harness the amazing potential of the location which is not able to be replicated.
Operating only 5 nights per week (Tuesday to Saturday), and two days (Friday and Saturday), an opportunity exists here for an owner operator to capitalise on the busy day time street trade by adding breakfast and lunch time hours, and opening Sundays.
An exceptional lease is in place, with over a year remaining on the current term, and a further 11 years in options.
The restaurant is a large space, with multiple revenue streams incorporating a dining room with 70 seats, a central bar with 18 seats, and an outdoor section of 28 seats. Attached is the potential to reinstate a separate take away business, to which a ghost kitchen could be utilised to offer multiple brands for delivery platforms. Furthermore is potential to add a private dining room and ‘speak easy’ bar subject to STCA approval. As part of the set-up, the kitchen is duplicated for ease of take away, delivery and restaurant service. Four car parks on site add to the appeal of this incredible venue.
**Please note that for confidentiality the image in this advert is generic and is not of the actual business**
Lease Details
Expiry date – 17th July 2025
Option periods – 3 x 3 x 5
Rent approx. $132k p.a.
3 months security
Premises Details
Dining room Approx. 170 square metres. Basement – approx. 100 square metres –
Multiple Male and Female Toilets. 2 Full commercial kitchens, cold room and store room. Outdoor seating area for 28 seats.
Staff Details
The business is currently run by:
Three front of house managers/supervisors
Two kitchen managers
10 part time / casual staff
Opening Hours
Tuesday – Thursday – 5pm – 9pm
Friday – Saturday – 12pm – 10.30pm
Opportunity
Owner operator to add further to net profit. Maintain existing cuisine or easily convert to wine bar, café or boutique pub with minimal expense. All the hard work has been done (exhausts, canopy’s, grease trap, toilets, cool room)
Extend the trading hours to 7 Days, add breakfast and lunches. Capitalise on separate take away business by adding to delivery platforms and catering.
Extend Liquor Licence to 1am, 7 nights – current 5 star rating – subject to approval
The current owner is not working in the business and a more present owner/operator would see an immediate improvement in sales and profit.
**Weekly**
Sales $36,000
Rent $2,481
Wages $15,000
Net Profit 10%
