Kanela Bar - A Late Night Entertainment Venue - 1p4593

Business For Sale 56 Johnson Street, Fitzroy, Victoria 3065

Business Category

Leasehold $170,000

Description

Kanela Bar - A Late Night Entertainment Venue - 1p4593

Kanela Spanish Flamenco Bar & Restaurant is Melbourne's only flamenco restaurant-tapas bar. Situated in the Spanish quarter of Melbourne on Johnston Street, patrons travel from far and wide (not just during the Johnston Street Festival) to experience exotic tastes and unbridled Spanish vibrancy in Fitzroy, indulging on the traditional style of Spanish cooking, whilst being mesmerised by live flamenco performances. Kanala has fantastic reviews and a very loyal following that love the bright lights, dancing and dazzling menu.

There is footpath trading for twelve and heading inside the bar on the right is dominated with the bulls head. Window and bar seating is available for those that just want a drink. Then head through to one long room set up for intimate dining with a stage at the rear. Behind the stage is a compact, fully equipped commercial kitchen. Above the main room is a small mezzanine level that has the lights and sound control for the venue. Upstairs one large room has been sublet as a dance studio with a second room used as an office and for storage.

The dancing does go on till late as the Kanela Bar has a late night on premises licence until 3am with a capacity of 60. There are nine years left on the lease of 4+5 and the landlord is happy to give another term on transfer. Rent comes in at only $1200 a week including GST. There is a detailed fixtures and fitting list but sorry the Bulls Head is not staying.

Kanala first opened its doors in 2003 but age has caught up so it is time to move on. The venue suits an owner operator that can either maintain the venue as it is or capitalise on the great licence and change to another form of live music venue or just have the place as a bar. This would be a good first time venue for someone with low overheads and great opportunity. The books are typically hospitality but good income and profitably are there to be seen. The vendors are therefore looking for offers in the region of $170,000 (Price Reduction) to take over this exclusively listed lovely venue. Note any reasonable offer will be considered.
Other Features / Notes
A:LEASEHOLD, B:HOTEL/BAR, C:VIC - Melbourne
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Bsale ID: 546080
Broker REF: 1P4593

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