Picasso's Pizza Restaurant has been operating in the heart of Hampton since 1997. The restaurant has catered for a range of individuals and families throughout its years and continues to do so. During the Covid period the venue underwent major refurbishment with the addition of the outdoor dining space.
There are a couple of tables outside the front where many patrons wait for their take away pizzas. These are produced by a large, very well-equipped commercial kitchen that is at the front of the venue. This is always very busy with pickups, deliveries and then the diners coming to head into the dining area. Patrons walk in past the bar and there is the first dining room with the enclosed garden providing plenty of light and colour. Past the toilets and store rooms and there is the rear function space. It has its own small bar and is set up to cater for parties and large groups such as the footy clubs for their functions. Outside at the rear of the venue are two car park spaces. Upstairs is a very well presented three bedroom apartment with two bathrooms, an open plan kitchen and dining space, laundry, office space, living room and outside an external patio.
Picasso's has an On Premises Licence until 1am with a capacity of 80 and a Limited licence until 11pm that allows the delivery of alcohol with food. There are eleven years left on the lease made up of 2+3+3+3 with rent coming in at $1600 a week including GST. The latter being very reasonable when the apartment is factored in. There is a large fixtures and fittings list with no equipment or supplier contracts being transferred.
The venue has a constant income and is ideal for a husband and wife owner operator team that can take over and maintain the comfortable family approach that is there at the moment. Of course the venue can offer just about any cuisine but the pizzas are good! There are a full set of books for the venue showing a very good income and profit. The vendors are confident of the continued success of the restaurant and so are willing to accept vendors terms on offers in the region of $280,000 (price reduction) for this exclusively listed venue.
