Sold - Lustre Lounge - 1p6012

Perched above Melbourne's most achingly cool laneway (Centre Place), Lustre Bar is a bit of a CBD institution. One of those venues that lives in the back pocket of your brain, laid-back and snug, just waiting for you to climb the stairs and give it go. Really though, the best thing about Lustre has always been the space itself. Warm and inviting, with a cracking window opening out above Flinders Lane to watch those below. The perfect spot for knock-off drinks.

Walking up the stairs from Centre Place you first turn right and head to the bar. From there a left and head in the single main room past the raised DJ booth. The venue has a decadent fit out including chandeliers made of wine glasses and comfortable leather sofas and chairs. The ladies toilets recently had a complete makeover. In addition to the bar there is a cafe downstairs off the laneway that is included in the lease. This can either be sublet as it is now or kept by any owner as an extension of the venue as it is also included within the red line plan.

Lustre Bar has a Late Night On Premises Licence till 3am with a capacity of 85. There are ten years left on the lease made up of 5+5 with a rent review in the coming months. Rent is $2480 a week including GST which could be greatly reduced by the sub lease of the cafe. All fixtures and fittings are included in the sale and there are no supplier or equipment contracts being transferred.

The vendors took the venue on over seven years ago. They have had great fun with the place with the venue providing all the income to sponsor a racing car team. The vendors have also run it under complete management throughout. Lustre Bar has a great name, location and excellent income. It really suits a dynamic hospitality professional that wants to take on a vibrant CBD late night venue. The venue is being sold on a walk in walk out basis because it has been run as mentioned to provide sponsorship and so no effective net profit on the books. Hence, the vendors are only asking for $150,000 for this exclusively listed venue.