Under Offer - Party House - 1p5516

Business For Sale 149 Commercial Road, South Yarra, Victoria 3141

Business Category

Leasehold $95,000


Under Offer - Party House - 1p5516

The name of the venue "Party House" tends to give you a good idea as to what sort of venue we have here. It's located amongst the entertainment strip on Commercial Road in South Yarra. It really has targeted the wilder birthday parties and hens nights. A simple, specific demographic and it has done very well.

There is footpath trading at the front of the venue. And on warm nights the whole of the front of the venue can be opened up with bi fold windows. Inside on the left is the bar and the space downstairs is set up more for dancing than sitting down. To the rear of the ground floor is the DJ booth which leads on to a decommissioned kitchen now used as a store room and then on to the stock room. Behind the bar is an alley way that leads out to a covered courtyard with it own Tiki Bar, passing the ground floor toilets. The male toilets cleverly being in an old converted cool room. Upstairs there is a small karaoke room with quirky details, more toilets and then on to the upstairs lounge with its own bar, small stage and sound system.

Party House has an On Premises licence until 1am with a very good capacity of 168. There are seven years left on the lease made up of 1+3+3 and with the possibility of extra terms being negotiated upon if required. Rent comes in at $1200 a week including GST.

The venue suits an owner operator that can either keep the venue as it is or change the target audience. The infrastructure is all there and is in good condition. With low overheads this is also an ideal first time venue with less risk than others. The vendor has many attributes which is why he is off to a gig in Las Vegas. However, administration and books are not on his list. So the venue is being sold walk in walk out. The vendor is very realistic about the sale and is so only asking for offers in the region of $95,000 for this exclusively listed party venue.
Other Features / Notes
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Bsale ID: 578437
Broker REF: 1P5516

CRE Brokers
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