Iconic Bar Restaurant, superbly positioned in Leichhardt

Price: $321,000 Location: Inner West, NSW Ref: 4890513
Agent:
Eddie Spurr
Agent Phone:
Office Phone:
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Business Headline :
Iconic Bar Restaurant, superbly positioned in Leichhardt
Price :
$321,000
Category :
Food/Hospitality, Accommodation/Tourism, Alcohol/Liquor, Hotel, Cafe/Coffee Shop
Full Description :

Unique commercial opportunity for a savvy Sydney hospitality operator

This is a rare chance to acquire a vibrant street bar restaurant plus party function venue in Sydney’s inner west. Bar is regarded as one of the best party rooms in Sydney. The operation is well established and profitable. The venue is a very popular and a highly regarded local institution, bringing you the best of LIVE Entertainment Sydney has to offer every week, hosting all your Private functions and special occasions.

As it stands, the business operates one evening per week (Saturday nights) and it is very profitable trading just one evening. 

This gives an incoming purchaser a vast array of potential new commercial opportunities.

 Key Features:

  • Inspiring modern fit-out over 250m2.
  • The ground floor footprint is located in arguably the best location on Norton Street Leichhardt, in between Norton Plaza shopping centre and the Palace Norton Street Cinema.
  • Bar has capacity for 200, offering creative cocktails, local craft beer plus spirits and wines. 
  • Food offerings include authentic Mediterranean and Middle Eastern share plates that beautifully compliment beverage options. 
  • Trading hours Saturday evening 8pm to late (can be extended)
  • Modest rent $150K per annum exc GST.
  • Lease term June 2027
  • Bar has approved outdoor smoking area.
  • Strong social media base and outstanding feedback from online review platforms.  
  • Social media elements are in place to ensure a solid platform of success for the new owner.
  • Owner has secured best price contracts for F&B costs, leveraging off strong reputation. 
  • All systems and processes, licenses, certificates and approvals have been set up by owner who is a renowned pioneer in the small bar movement in Sydney. Bar is fully operational, compliant and expertly set up.
  • Fully equipped kitchen. Furniture and fittings included. Quality sound system.

Potential:

  • Opportunity for savvy marketer to ramp up the promotions and social media platforms to increase venue profile for weddings, engagement, launches, luncheon events etc
  • Venue could easily be reconfigured and rebranded according to the new owner’s focus.
  • The functional kitchen could easily support a variation in the current menu based on owner’s creative ambitions.
  • EXTEND DAYTIME TRADE – The front section of the site would entertain a great new street Café with outdoor seating. Norton Street is one of Sydney’s Café precincts, and the position would be ideal for a 7-day concept Cafe.
  • EXTEND EVENINGS: Trade as many evening as desired with a catalogue of tested entertainment ideas and concepts eg *Live Jazz & Blues matched with American Craft Beers *Ribs & Burgers (Blues Brews & Rib night)  *Electronic Musical Tributes: Bob Marley: matched with Caribbean Bar and Jamaican Food *Stand up Comedy events etc

To receive further information please complete the below registration: http://www.abbagroup.com.au/?p=4890513#enquire-now

To receive further information please complete the below registration: https://www.abbagroup.com.au?p=4890513#enquire-now

Annual Rent : $160,000 - Weekly Rent : $3,077

Annual Turnover : $907,000 - Weekly Turnover : $17,442

Annual Gross Profit : $708,000 - Weekly Gross Profit : $13,615

Annual Ebit : $301,000 - Weekly Ebit : $5,788

Premise : Leased

Lease Commencement : Jun 2017

Lease End : Jun 2022

Lease Option: 5 years

Current Outgoings pa: $3,000

Total Land Area : 250 Square Metres

Total Floor Area : 250 Square Metres

Total No of Parking : 1

Franchise : No

Approximate Stock Value : $10,000

Year Purchased : 2018

Year Established : 2016

Days Trading : 1

Staff : 1 Full Time - 15 Casual

Staff Salaries : $202,000

Reason for Sale : Other interests

Location : Leichhardt

Business Potential : - Open outdoor section at rear for Shisha - Opportunity for savvy marketer to ramp up the promotions and social media platforms to increase venue profile. Venue could easily be reconfigured and rebranded according to the new owner’s focus. The functional kitchen could easily support a variation in the current menu based on owner’s creative ambitions. EXTEND DAYTIME TRADE - The front section of the site would entertain a great new street Café with outdoor seating. Norton Street is one of Sydney’s Café precincts, and the position would be ideal for a 7-day concept Cafe. EXTEND EVENINGS: Trade as many evening as desired with a catalogue of tested entertainment ideas

Parking Comments : 1 car - Street parking

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