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No 1 Restaurant And Bar In Randwick For Sale

Randwick, New South Wales, Australia
Asking Price:
$450,000 (AUD) Furniture / Fixtures included
Sales Revenue:
$1,400,000 (AUD)
Cash Flow:
$190,000 (AUD)

No.1 restaurant and bar in randwick and surrounding areas
Corner of 2 major roads in Eastern Suburbs

The restaurant every suburb wishes it had – delicious food, professional service & great value

Key features:
• This Restaurant & Bar enjoys a visible corner location in an ever increasing popular precinct
• This business was established more than 5 years ago
• Restaurant trades: Lunch: Thursday – Sunday; Dinner: Wednesday - Saturday
• Has a contemporary menu for an eclectic mix of customers – many are regulars but many also travel great distances for the food and service e and value
• Fully equipped and easily operating
• Rent represents approximately 8% of turnover – lease till 2036
• Business offers an excellent work/life balance.
• A professional front of house team together with a Chef lead kitchen brigade.
• Current owners willing to train new owners and continue in an advisory role – if required.


Asking Price: $450,000 Walk-In; Walk-Out + SAV

For more information contact.

Property Information

Real Estate:

Lease

Lease Terms:

LEASE TERMINATES: 31st March 2026
OPTION: 2 x 5 years till 31st March 2036

Leasehold Rent:

$113,000 (AUD) per annum

Living Accommodation:

Upstairs is currently used as office and storage but could also be used as a one or two bedrom apartment.

Location:

Located only 2 blocks from Centennial Park in the triangle created by Clovelly Road, Darley Road and Avoca Road - away from hustle of main city Randwick.

Premises Details:

This is a purpose built restaurant. Modern and appealing with upstairs section with offices, staff rooms and storage. Garden area and high visibility corner.

Business Operation

Competition / Market:

This is the most popular restaurant in the region.

Reasons for selling:

Started 5 years ago – being the first business for the owner. He has succeeded beyond his wildest dreams but this is only the first step in his long term vision. He has taken the small steps in owning his own business and this has given him the confidence to look to his original plan – and now he can go for it.

Trading hours:

Open: Lunch: Thursday to Sunday
Dinner: Wednesday to Saturday
Closed: Monday, Tuesday and Sunday night

Employees:
Kitchen: 1 Head Chef; 2 Sous Chef; 2 Casual Chef; 3 Casual kitchen hands. Front: 1 Full time Floor Manager; up to 8 casual floor staff.
Years established:
5

Other Information

Inventory / Stock value:
$25,000 (AUD)
Website:
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Related Documents:

Contact Michael Fischer & Associates

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