Double Happiness & New Gold Mountain - Two Late Night Laneway Bars

While not as well-concealed as its sibling also on Liverpool Street in the CBD, Double Happiness still prides itself on being for those in the know. Its regulars would likely hope it stays this way. Aptly named after the traditional Chinese character for joy and happiness, Chinese ornamental designs are dominant with a plethora of propaganda posters, statues and trinkets. This is a true hole-in-the-wall and is delightfully intimate with decor & cocktails inspired by its location on the cusp of the city's bustling Chinatown with an equal dose of old school hip hop playing in the background.

New Gold Mountain, a 100% Australian ingredients cocktail and wine bar is one of the CBD's best kept laneway secrets – and not just due to its hidden door and a total absence of signage. As you enter the building (a converted tailor's shop) and climb the stairs to the first floor, the mood is mysterious and exciting, highlighted by the old-World Shanghai design, jade-green interior and smooth, ambient tunes. Both bars have their own toilets and independent access. There are no kitchen facilities. There is a third level, part of New Gold Mountain that is used for storage but can be refurbished into a function or karaoke space.

Both venues are on one lease with just over nine years remaining made up of 4+5. Rent for both venues comes in at $1870 a week including GST. Each venue has an individual liquor licence with the same address and owning entity so they could be combined in the future. Double Happiness has a Late Night On Premises Licence until 3am with a capacity of 54. New Gold Mountain has a Late Night On Premises Licence until 5am with a capacity of 110. All fixtures and fittings are included in the sale and there are no equipment or supplier contracts being transferred.

Both venues are run fully under management, with them being the last remaining venues being sold of the vendor's portfolio. They can be easily run by an owner operator or under management. They have a good, steady clientele which gives a consistent income. Any new operator can keep the present theme or change it to whatever their creativity comes up with. A good set of books shows a decent income so the vendor is looking for offers in the region of $250,000 for these two exclusively listed inner city laneway bars.