Iddy Biddy Bar - 1p6286

You'll find Iddy Biddy on the junction of Barkly and Blessington Street in St Kilda and I have to confess it was my home away from home for five years so if you ask me what I think of the venue I may be rather biased.

So with that in mind note that there are many more that love the place. There is huge traffic seven days a week ranging from breakfast through to beers and live music late into the evening. Basically it does not matter what time of day it is there will always be someone there to look after you.

With ample seating outdoor for 24 that is shaded by a large tree there is no better place to spend the day. A recent addition also being a section of the covered parklet at the front of the venue. Heading inside you step straight up to the bar and then from there can move left or right to bench or lounge seating in either side of the bar. Behind the bar is the compact but well-equipped commercial kitchen that produces a constant supply of dishes.
Outside to the rear of the venue is a small covered courtyard for the smokers or storage area. There is also the beer cool room with glycol chiller unit, a freezer cool room and the kitchen cool room.

Over the years the venue has expanded and so occupies two addresses and has two leases but with the same landlord. There are nine years left on both leases made up of 3+3+3 with a combined rent coming in just under $2270 a week including GST. Iddy Biddy has a restaurant and cafe licence until 1am with a capacity of 115. It also has a limited licence for delivery of alcohol up to 11pm. All fixtures and fittings are included in the sale and there are no supplier contracts or equipment leases.

Iddy Biddy has the benefit of being a great place to be in Summer or Winter, with multiple revenue streams. The venue is run completely under management at the moment and so suits either an experienced operator, a hospitality group or under management for a passive income investor as it does have a constant year round excellent income. There are a full set of books and POS reports showing sales. However, the vendors are realistic about the price and what buyers are looking for and so are looking for offers in the region of $400,000 for this exclusively listed venue.