For Sale is a Restaurant and cocktail bar that is attached to a 145 room hotel in the centre of Canberra. Currently leased and run as a cocktail bar operating 6 nights a week the business enjoys use of a full commercial kitchen including all appliances you would need such as combi ovens, deck ovens, walk in coolroom etc. The front of house area contains a fully stocked bar and a hot and cold buffet and is licenced for 144 people in total 100 inside and 44 people out the front of the store in the beer garden area.
There is a strong commercial opportunity for the buyer to offer breakfast to the hotel guests which is not currently being taken advantage of. The hotel operates at between 70 and 80% occupancy so this would clearly be a strong potential revenue stream for a buyer from hungry guests. The Hotel is keen to offer bed and breakfast packages and do other deals such as offering chargeback facilities for their guests so any buyer will recognise a strong captured market for their offering. The Hotel has also indicated plans to build conference facilities in the future which could bring catering opportunities.
Although the Hotel can provide a strong and sustainable revenue stream the Restaurant has been well designed to have its own seperate entrance onto London circuit so the business has external signage and the ability to build an external trade. With the theatre in close proximity pre show dinners are junt one of many great ideas for growing the business.
With a genuine and urgent reason for sale we have priced the business for a quick sale and are seeking interested parties who are capable and experienced to run a busy hotel kitchen who can step in to fulfil the obvious opportunities that exist with this opportunity.
Lease Details
The lease began in 2021 and runs until 2027 with 2 furhter 3 year options being available taking tenancy out to 2033. The base rent is at $650 per square meter.
Premises Details
The business takes up 206 square meters in total
Opening Hours
Currently 5 evenings per week from Tuesday to Saturday
Opportunity
Longer hours, opening for breakfast. The business is brimming with opportunity and possibility and just needs an engaged operator to realise the potential that is clearly there.
