Prestigious Chinese Restaurant Sydney, North Shore
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.
- 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.
- 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-nowTo 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
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