A rare opportunity to secure a long standing and beloved Restaurant in the ACT.
This business has been a beloved part of the Canberra food scene for 20 years and continues to enjoy success with a hearty and popular offering in what is arguably the best shop in the best street, in one of the most sought after suburbs in the ACT.
Experienced operators will like the fact that this business enoys an offering that is commercially appealing but relatively easy to operate and so transferring the business can be a smooth process.
Key Features:
Established: The brand has been serving Canberrans since 1988 and the current location has been operating since 2010. Don't listen to the neesayers this business is thriving.
Prominent Location: A high visibility corner site in a wealthy Inner South suburb. Undoubtedly one of the best locations available and with a brand new hotel being built the future is brighter still.
Sharp Supplier Prices: Due to longstanding supplier relationships t he business enjoys a very low low cost of sales.
Long financial History. The business is carefully managed financially and there is a long history of sales showing strong on the books profits
Long Lease: A 5 year lease with an additional 5 year option offers a long secure tenancy with the abuyers enjoying a productive and close working relationship with a supportive landlord
Great fitout: The business presents well and the dining room blends comfort and style with plenty of interesting features.
Respected brand The business has been tightly held by the same owners for 28 years and the business has thrived in this particular location since it opened in 2011.
Genuine reason for sale: The Reason for the sale will be shared with qualified buyers and a comprehensive transition has been planned to help set up the buyer for success through a seamless changeover process.
Growth Potential: The business model is proven and the brand highly recognisable, with careful planning an ambitious buyer could potentially roll out further locations.
Initial conversations with lenders indicate that approved buyers may be able to borrow a significant portion of the purchase price from the banks.
Businesses as strong and successful as this do not come along that often and are often tightly held so this could be your opportunity to grab hold of a real gem.
Lease
10 plus 5 year lease offers long security of tenure
Trading Times
Sunday Friday 12pm-2pm, 5:30-9pm Saturday 5:30-pm
Size of Premises
220 square meters
Opportunity
The brand is well recognised and the business model profitable and proven. The opportunity to roll out the brand to other locations would be attractive to a strategic buyer.
**Weekly**
Turnover (inc GST) $59,381
Rent 7.6% of sales
Wages $19,698 (34% of turnover)
Net Profit $9,518
