Cafe / Restaurant And Bar – Millers Point, Nsw

Business ID: BS156573

TURNOVER: APPROX. $700K – RECENT REFIT – NEW COMMERCIAL KITCHEN

This popular Café / Restaurant / Small Bar has the potential for a $1 million turnover – by trading on Sundays and opening for dinner. Currently Cava opens for breakfast and lunch – but DA permits operation from 7am to 10pm every day. The owner-operator recently trialled opening 3 nights a week – which proved popular with residents.

BUSINESS HIGHLIGHTS:

- Long established business (10+ years) with loyal support of local residents

- Recent $350K refit with NEW commercial kitchen and bar plus display and refrigeration services

- Part of Millers Point suburb, on the edge of The Rocks, Barangaroo, Headland Reserve and Observatory Hill

- 6 apartment blocks within 50m walking distance (1000+ units)

- Numerous AirBnBs on Kent Street – plus Langham Hotel

- 5-minute walk to Wynyard Train Station and Buses – Close to new Barangaroo Metro Station

- Limited competition, particularly for dine-in breakfast

- Daytime Trade post Renovation and Relaunch – approx. $700K with approx. 10% profit

- Excellent Venue – Over 100sqm – Licensed for 75 people

- Indoor and outdoor seating – Outdoor is very popular with a lovely leafy outlook

- Leasehold – Options until 2032 – Comes with sought after secure parking space

- Much of the property is maintained as part of the lease (including bathrooms)

- Access to Observatory Tower facilities – including pool, gym and spa

- Highly prized Small Bar Liquor Licence – 12 noon to 10pm – 7 days a week

- Great assets – including Oversized Cool Room, 75” UHD 4K TV, Sonos WiFi speakers, free-to-air TV, streamed music, Nightlife music videos

- Good mix of customers – including locals, office workers, International and interstate visitors to Sydney, and local businesses

- Fully trained staff in place – Owner does not work in the day-to-day business

Cava is an important hub for the local community – as demonstrated by trading throughout Covid. With a commercial kitchen and bar now in place, it would be easy to develop the lunch and evening trade, thus securing multiple income streams.

There is an immediate opportunity to open for Sunday breakfast – a service regularly requested by residents. This great business would best suit a couple or partnership who could be directly involved in the day-to-day business, thus reducing labour costs. Catering remains an untapped potential market – as well as hosting events and building stronger relationships with local businesses.

PRICE: $195,000 + SAV

Property Code: 3699