Iconic Restaurant, Profitable, Under Management, Long Lease, Sutherland Shire
It is not often that such a stylish, iconic, fully licenced restaurant becomes available for sale. Located in a premium location, a 10 year lease ensures that you are front and centre of peoples mind when they stroll down the busy street.
Restaurant features high quality kitchen equipment, fittings, fixtures, indoor and outdoor seating (Replacement value close to $600,000).
Operated fully under management, the owners are investors, not operators. This does leave potential for an owner operator to further increase profitability, or for an investor to simply keep the status quo.
The lease period runs to July 2023, with a further 5 year option taking it to 2028.
The restaurant operates lunch and dinner Friday to Sunday, Dinner only Wednesday and Thursday. Opportunity exists to open longer hours and possibly even offer a breakfast menu.
Summary of Key selling points:
- Operates profitably under management
- Liquor licence
- Long lease, with rent around 10% of takings
- Great location
- Accountant prepared profit and loss statements available for review
- Opportunity to increase profits through extended trading hours
To receive further information please complete the below registration: http://www.abbagroup.com.au/?p=4241185#enquire-nowTo receive further information please complete the below registration: https://www.abbagroup.com.au?p=4241185#enquire-now
Annual Rent : $146,436 - Weekly Rent : $2,816
Annual Turnover : $1,600,000 - Weekly Turnover : $30,769
Annual Gross Profit : $1,100,000 - Weekly Gross Profit : $21,154
Annual Ebit : $370,000 - Weekly Ebit : $7,115
Premise : Leased
Lease Commencement : Jul 2013
Lease End : Jul 2023
Lease Option: 5 years
Current Outgoings pa: $16,717
Franchise : No
Approximate Stock Value : $10,000
Year Purchased : 2015
Days Trading : 5
Staff : 5 Full Time - 11 Casual
Staff Salaries : $444,512
Reason for Sale : Other business interests
Location : Cronulla
Business Potential : Trade 7 days and/or breakfast, Owner Operator could improve profitability
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