Otis Bar & Espresso - 1p6142

Otis Bar Espresso is tucked in the ground floor of the large accommodation block, Albert Place, on Bowen Crescent. It is equidistant from the Shrine and Albert Park, the venue being surrounded by high rise developments of offices and apartments and located nearby the new ANZAC station development.

The venue is small inside with high quality finishes, most of the seating is found outside on the large open plan piazza with further seating across the road in the park. Inside the coffee machine is the main point of interest with a small food prep bench at the back. Bar stools line the benches and the shop features a side door to Albert Place so that the residents do not need to venture outside to grab their coffee fix. With the shelving and display cases throughout, what you see is what you get. Which seems to work very well with the locals.

Otis has a General Liquor Licence until 11pm both on and off site with an internal capacity of 8 inside & 20 outdoor seats. There are twelve years left on the lease made up of 2+5+5. Rent comes in at only $400 a week including GST and includes 2 storage areas located within the building & access to a bathroom for patrons. All fixtures and fittings are included and there are no equipment or supplier contracts to be transferred.

Otis is a beautiful shop & a simple operation, currently run fully under management for morning and lunch time trade Monday to Friday only. There are a full set of books that show a very good income for the size and operation of the venue. A large portion of the profit is taken up with the managers wage so the venue really suits an owner operator who should then receive a very good income. Especially if they can expand the offering and hours - Friday nights, weekends, functions. Otis is well loved by the neighbourhood and huge untapped potential. The vendors are asking for offers in the region of $50,000 (price reduction) for this exclusively listed venue.