Iconic Restaurant, Profitable, Under Management, Long Lease, Sutherland Shire

Price: $450,000 Location: Sutherland, NSW Ref: 4241185
Agent:
Bruce Irvine
Agent Phone:
Office Phone:
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Business Headline :
Iconic Restaurant, Profitable, Under Management, Long Lease, Sutherland Shire
Price :
$450,000
Category :
Food/Hospitality, Restaurant, Alcohol/Liquor, Cafe/Coffee Shop
Full Description :

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-now

To 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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