This is an exciting opportunity to pick up a popular restaurant and cocktail bar located close to Canberra CBD. The business has a lot of advantages including strong sales (40k per week) long 10 year leases and several distinct revenue streams.
The stylish art deco themed restaurant and bar are located in the same building as a 120 bedroom hotel and surrounded by other hotels, offices and private residences that help to support the trade of this business.
The Restaurant is a well established part of the local dining scene and is a popular spot for weddings and private gatherings.
The cocktail bar complements the restaurant perfectly and offers a separate revenue stream that is easy to operate and lucrative.
The business is priced for a quick sale so if you are in the market for a bargain then this opportunity will represent amazing value for money.
Lease Details
The restaurant and bar both enjoy 10 year leases, the restaurant lease commenced in 2021 and the bar in 2023.
Premises Details
The restaurant enjoys 352 square meters and is licensed for 140 guests inside and a further 80 outside on the terrace. The bar is 58 square meters and is licensed for 60 guests.
Opening Hours
Currently the restaurant is open 4-10pm Tuesday through Saturday, come Spring the business will reopen for lunch.
Opportunity
The owners have all moved away from Canberra and are looking to find a buyer to take the business into the future.
There is plenty of demand for weddings and private gatherings. The venue also works well as a music venue and Sunday sessions would work well also.
Opening the venue regularly for lunch and dinner will also drive growth.
**Weekly**
Sales $42,195
Rent $3,082 (for both sites) plus outgoings
