Beach Front Bar Restaurant Under Management For Sale

Business description

New Listing;

Absolute beach front Bar / Restaurant situated among other similar businesses in sought after prime real estate on the Northern Beaches of Sydney.

Sales price $1,225,000 plus stock.
Trade is exceptional. In these tough economic times this business has stood up and won!. Turnover for this year is all ready up 23.4 % for July and August compared to last year.

Average weeky Sales of $ 50,697 The owner will offer a week or two weekly trial based on an equivalent week/s turnover of the previous year with a 5% variance. A full breakdown of sales per month for the last two years is available on request.Sales for selected months are as follows:

Sept 2007 $192,677 : Sept 2008 $ 193,995:
Dec 2007 $ 293,009 : Dec 2008 $288,460:
Jan 2008 $289,224; Jan 2009 $331,608
July 2008 $ 155,461 : July 2009 $ 209,539
Aug 2008 $ 169,640: Aug 2009 $ 191,568

Magnificent position with the upstairs Restaurant seating 140 guests with panoramic views of the beach.
The downstairs section at street level with outside seating seats approx 60.
Licensed for 300 for a Coctail party ( No sitting down )
Same Owner since 2000 looking for a new challenge.
Owner welcomes a due diligence to verify all records.
Outstanding presentation:

Time is right NOW for a new buyer to reap the Summer rewards. For more information please contact Peter Golding by return for a confidentiality agreement. Thank you.

Property information

Real Estate:

Lease

Lease terms:

11 years to go on lease

Leasehold rent:

$245,000 per annum

Location:

Magnificent beachfront location on the Northern beaches of Sydney.

Premises details:

Upstairs 140 seat restaurant downstairs 60 seat bar

Size in square feet:

289.5 sq m

Other information

Expansion potential:

Introduce daily cafe style

Planning consent:

all approved

Competition / Market:

Many others all around, the place to dine and select.

Support & training:

full training available

Reasons for selling:

Owner tired and needs a change

Trading hours:

7 days
lunch and dinners breakfast weekends

Furniture / Fixtures value:

$250,000 (included in the asking price)

Inventory / Stock value:

$30,000

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