Manly Restaurant Cocktail Bar. Great Reputation

Key features of this opportunity: 
• Turnover $2.4 million (approx.)
• Profit $400k (approx.)
• 130+ seats with large outdoor dining/drinking area
• 15 years lease (minimal)
• $3,200 weekly rent.
• $300k re-fit just completed.
• Unique fully equipped live music atmosphere as part of the bar
• Conveniently located in the heart of the local CBD with high foot traffic exposure
• DA APPROVED March 2024;

• Extending premises up to 250 seats, with access to 3 x existing commercial kitchens
• Exclusive use of 206sqm external courtyard with approval for fitout, including outdoor bar and weatherproof retractable awnings (all seasons)
• Dual street frontage

 

Well-established over 20 years and well-known bar and restaurant.
• Welcoming premises with quality fit-out and recent upgrades and a seating for approx. 130+ patrons across internal and external areas.
• Licenced footpath seating for 48 at the front of the venue. Large bi-fold doors lead into a spacious restaurant with full bar and covered courtyard area.
• Recent (April 2024) upgrades of music production equipment and sound proofing ($100,000)
• Casual dining menu with broad appeal to cater to breakfast / lunch / dinner and families.
• New lease with 15 years left to run (5 x 5 x 5)
• On-premises licence with much sought-after Primary Service Authorisation (allowing the sale of liquor without food) with excellent selection of beers, wines, spirits and cocktail menu.
• Strong revenue and run under management.
• Well-equipped, nothing to spend (just undergone major internal renovation in late 2020/21 $300k+)
• Huge potential with DA Approval to extend premises, including extensive outdoor dining, with accountant financial projections exceeding $6 million turnover and $1 million profit.

 

Listing ID: NSW09725

Broker: Paul HelliwellPhone:  XXXXXXXXXX Email:  XXXXXXXXXX

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Ref: NSW09725
Ref: NSW09725
Timestamp: XXXXXXXXXX 0003