Prestigious Chinese Restaurant Sydney, North Shore

Price: $380,000 Location: North Shore - Lower, NSW Ref: 4987142
Agent:
Eddie Spurr
Agent Phone:
Office Phone:
ENQUIRE NOW
More Information
Enquire Now
More Information
Business Headline :
Prestigious Chinese Restaurant Sydney, North Shore
Price :
$380,000
Category :
Food/Hospitality, Restaurant, Alcohol/Liquor, Cafe/Coffee Shop
Full Description :

A rare opportunity to acquire a highly esteemed and profitable restaurant located in a very popular suburb within 5km of Sydney’s CBD.

An excellent business is on offer, priced to sell and will not last long.

Key Features:

  • Venue has vast seating capacity for 200 including 120 downstairs at street level dining and 80 seats upstairs across 3 function rooms. Total 500sqm.
  • Highly desirable, established retail operation plus function venue site. Popular for large private celebrations such as weddings/engagements, premium corporate functions and other tailored events.
  • On Premises liquor licence.
  • Easy access with street car parking and nearby council / shopping centre car parks.
  • Beautifully appointed, modern fit-out with extensive unencumbered equipment list. 
  • Fit-out designed by an food & beverage industry expert, featuring fully equipped modern kitchen, walk in cool and freezer rooms, laundry, office, cash room. Upstairs bar and service kitchen with automated lift / dumb waiter dual delivery / access points at rear to ensure product supply occurs conveniently at back of the restaurant. 
  • All facilities exist to produce exquisite, modern Chinese or other Asian style cuisine at a large scale e.g. combination steam ovens, fish tanks, multiple burner wok burner station, facility for BBQ duck etc.
  • Generous lease term to 30th April 2026 with supportive landlord.
  • Low rent of $206K ex GST per annum equates to approx. 10% of sales.
  • DA to operate 7 days. Currently operating 6 days lunch 11am-3pm, dinner 5:30pm- 10pm with option to extend. Starts 10:30am on Saturday.
  • Enormous potential for genuine growth and value add opportunities.
  • Business could easily be run under management or owner operated.
  • Genuine reason for sale (owner has multiple other business ventures).
  • Strong social media base and outstanding feedback from online review platforms. 
  • Full financials are available. Contact broker.

Potential

  • Increase daily trading, capturing 7 days thus materially increasing sales.
  • The very large kitchen could easily support a variation in the current menu based on owner’s creative ambitions.
  • 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.
  • Potential to build on function revenue using brand’s existing reputation and the current strong client base. 

 

To receive further information please complete the below registration: http://www.abbagroup.com.au/?p=4987142#enquire-now

To receive further information please complete the below registration: https://www.abbagroup.com.au?p=4987142#enquire-now

Annual Rent : $206,000 - Weekly Rent : $3,962

Annual Turnover : $2,080,000 - Weekly Turnover : $40,000

Annual Gross Profit : $1,456,000 - Weekly Gross Profit : $28,000

Annual Ebit : Not Disclosed - Weekly Ebit : Not Disclosed

Premise : Leased

Lease Commencement : Aug 2017

Lease End : Mar 2021

Lease Option: 5 years

Current Outgoings pa: $24,000

Total Land Area : 500 Square Metres

Total Floor Area : 500 Square Metres

Franchise : No

Approximate Stock Value : $20,000

Year Purchased : 2017

Year Established : 2000

Days Trading : 6

Staff : 5 Full Time - 3 Part Time

Staff Salaries : $446,000

Reason for Sale : Other business ventures

Location : Crows Nest

Business Potential : * Increase daily trading, capturing 7 days thus materially increasing sales. * The very large kitchen could easily support a variation in the current menu based on owner’s creative ambitions. * 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. * Potential to build on function revenue using brand’s existing reputation and the current strong client base.

Parking Comments : Abundant street parking

Enquire Now

To enquire about this listing, please fill in the form below.