Restaurant, Bar, Weddings, Gold Coast Iconic Venue

Business For Sale Gold Coast QLD Region, Queensland

Business Category Restaurant

$1,000,000 + SAV

Description

Restaurant, Bar, Weddings, Gold Coast Iconic Venue

First time on the market in 36 years and owners are sad that their Iconic Business with its History is now available to another generation to carry on the great Goodwill, and still cater for the locals and the International customers.

Well-known restaurant bar & function venue serving the best steak and seafood in the area. - 500 + customers per night. –

Huge wine selection. - Large commercial kitchen.

The business includes the Restaurant and a 5 bedroom apartment with 3 ensuites which is attached to the building. –

Asking price $1.00 million for 20-year Lease ( 10 + 10 years) Restaurant’s capacity = 1100 seats.

Features

First time on the market in 36 years.

Fully Licensed
Prime main road location - Very busy location : 5-bedroom residence attached. - Popular for business and family functions.

Premises
2,000 sq. meters.

Parking for 200 + cars.

Rent $350,000.00 pa. + GST or $6,730.00 per week

Low rent @ $175.00 + GST per sq. meter.

Weekly Turnover: under COVID-19 restrictions, income has been as high as $80,000.00 per week.

Location
Situated in the heart of a suburban area of Gold Coast on a busy arterial road.

Traffic Flow
32,000 cars per day

Trading Hours
7 days

11.00 a.m. – 9.00 p.m.

Lease

Lease 10 + 10 years.
New lease is negotiable to suit and option to buy the Freehold - The owner will also give free rent for a specified period.

Employees
2 owners + staff - (up to 40 at peak times )

Brokers Comments

The venue is large enough to operate 3 Restaurants under the same roof and management team, with the capacity to generate an income of $150,000.00 per week or $7.5 million per annum. All could be run out of the central kitchen.

The buyer must consider; a Bar & Bistro: Italian Restaurant: Steak & Seafood Restaurant; Wedding Venue.

Asking Price $1.00 million + SAV for 20-year Lease.

For further information on this opportunity, please contact the undersigned:

Bruce Rylance

Business Broker

Benchmark Business Sales & Valuations

M: XXXXXXXXXX T: XXXXXXXXXX E: XXXXXXXXXX

If you like to know more about the Business complete our online confidentiality agreement here: XXXXXXXXXX

or go to XXXXXXXXXX and use the reference number #4617 to search for the business.



Benchmark Business Sales and Valuations

The business images shown are for illustration purposes only and may not be an exact representation of the business.

Business Category: Food and Hospitality, Restaurant, Coffee, Cafe and Restaurant, Bar, Function Venue, Events, Accommodation and Tourism, Function Centre

Property Code: 4617
Contact Seller

Bsale ID: 529161
Broker REF: benchmark_49_728

Benchmark Business Sales and Valuations
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