Business Under Offer BS144110, The Entrance, New South Wales 2261
Business Category Alcohol Liquor Shop Entertainment
Under Contract / Offer
Under Offer! Movie Theatre, Music Venue And Cocktail Bar - Central Coast, Nsw
Business ID: BS144110
Profit $200K under Management. Option to take over at peak trading time – Delayed settlement on offer.
Opened and fully refitted less than 3 years ago this historic venue is located in a rapidly evolving area of the Central Coast.
Fitted to a high standard with high quality sound and projection systems this venue has proven to be very popular in its short time in operation.
Covid affected operations in FY20 with the venue being able to operate at 1/3rd capacity for almost 6 months. It bounced back in FY21 to produce an income of around $200K for the owners with the business essentially run under management.
With Lockdown in place for a while longer the vendors are offering the option for a buyer to have a delayed settlement until Lockdown has ended. We are anticipating that this will occur before Xmas when the party season will be ready to get in to full swing and the area will be full of tourists looking to enjoy themselves after the restrictions that Covid has brought over the last 2 years.
The multipurpose venue provides entertainment by way of music DJ’s, live artists, movies and has been used for local council networking events, art displays and even weddings.
-Large 2 story premises
-Excellent rent $500 per week
-Long Lease 2 years plus 2 x 5 year options
-Fantastic fitout on both floors
-All equipment owned outright ($200K at cost)
-Full POS system in place with handheld terminals
-New beer system with 6 taps
-General Liquor License (until 12pm)
-Compact commercial kitchen
-Licensed for 175 persons
-Ample free parking very close by
The owners will provide the purchaser with a two-week handover prior to settlement. Settlement can be delayed until the end of Lockdown.
This business would not be for sale if the business partnership was continuing. This is a one of a kind entertainment venue in the region and one that should be capable of generating strong profits under experienced ownership.
Asking Price: The Goodwill and all assets of the business are for sale for $590,000. Stock will be charged separately at cost price. A stock holding of around $12K is typical.
Similar Businesses For Sale
This business is somewhat unique and has no similar competition in this region, category or price bracket.