Iconic Bar price drop, Surry Hills.

Price: $99,000 Location: Eastern Suburbs, NSW Ref: 5198586
Agent:
Eddie Spurr
Agent Phone:
Office Phone:
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Business Headline :
Iconic Bar price drop, Surry Hills.
Price :
$99,000
Category :
Food/Hospitality, Leisure/Entertainment, Alcohol/Liquor, Restaurant, Bars/Nightclubs
Full Description :

Extremely popular bar, price slashed and ready to sell. Perfect position on Crown Street. Well established, very profitable and compliant business. $32K sales / week.

Primary Service Authorisation license – allowing the sale of alcohol without food.

Priced at .5 multiple of profit return – re-coup your investment in 6 months. Owner needs to move on for other ventures.

Key Features include:

  • Cool, creative fit-out. Highly visible eye-catching frontage wrapping a premium Crown Street corner.
  • Currently running under management.
  • Innovative food menu with superb beverage options, a rum bar plus seasonal cocktails, international craft beers, sodas and wines.
  • Plenty of space, covering 185sqm with generous seating capacity both in the restaurant and associated bar area.
  • Venue hosts live entertainment.
  • Strong social media base and outstanding feedback from online review platforms.
  • Regularly featured in Sydney F&B media.
  • 5,500 Facebook Page followers. Email database 10,000 strong.
  • Trading hours 7 days. Monday to Thursday 5pm – 12am and Fri to Sun 12pm – 12am. Outdoor seating until 10pm.
  • Licensed until 1am, 7 days.
  • All design, branding, social media elements are available and in place.
  • All systems, licenses and approvals have been set up by the owner who is highly respected in Sydney’s bar venue scene. 
  • 5 years secure lease (2.5 + 2.5 option).
  • Rent + outgoings equal 11% sales.
  • FY19 Sales = AUD $1.65 Million or $32K / week.
  • Full accountant prepared financials are available. Contact broker for financials.

Potential

  • Running as a managed-business, significant upside can be enjoyed by an owner-operator.
  • Increase trading capturing increased revenue and profit. Potential for growth can be realised through extended trading hours for breakfast/brunch/lunch, or extended night-time trading to utilise the 1am liquor license.
  • The very large kitchen could easily support a variation in the current menu based on owner’s creative ambitions.
  • Grow catering and increase corporate function trade. Potential to build on event and venue hire revenue as this is a highly desirable and unique site for large private functions or product launch events.
  • Further develop a thriving brand through coffee, fresh juices and brunch offerings.
  • Set up and offering Deliveroo, UberEats.

  

To receive further information please complete the below registration: http://www.abbagroup.com.au/?p=5198586#enquire-now

To receive further information please complete the below registration: https://www.abbagroup.com.au?p=5198586#enquire-now

Annual Rent : $185,000 - Weekly Rent : $3,558

Annual Turnover : $1,665,000 - Weekly Turnover : $32,019

Annual Gross Profit : $1,159,000 - Weekly Gross Profit : $22,288

Annual Ebit : $201,000 - Weekly Ebit : $3,865

Premise : Leased

Lease Commencement : Dec 2014

Lease End : Dec 2024

Total Land Area : 185 Square Metres

Total Floor Area : 185 Square Metres

Franchise : No

Approximate Stock Value : $17,500

Year Purchased : 2015

Year Established : 2015

Days Trading : 7

Staff : 3 Full Time - 10 Casual

Staff Salaries : $471,000

Additional Notes : The premises is located on Ground Floor and basement, with the basement housing an office and storage area.

Reason for Sale : Divestment for other projects

Location : Surry Hills

Business Potential : • Running as a managed-business, significant upside can be enjoyed by an owner-operator. • Increase trading capturing increased revenue and profit. Potential for growth can be realised through extended trading hours for breakfast/brunch/lunch, or extended night-time trading to utilise the 1am liquor license. • The very large kitchen could easily support a variation in the current menu based on owner’s creative ambitions. • Grow catering and increase corporate function trade. Potential to build on event and venue hire revenue as this is a highly desirable and unique site for large private functions or product launch events. • Further develop a thriving brand through coffee, fresh juices and brunch offerings. • Set up and offering Deliveroo, UberEats.

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