Manly Restaurant Cocktail Bar. Great Reputation
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About this business
In the broker's words
Full description, as written by the brokerKey features of this opportunity:
- Turnover $2.4 million (approx.)
- Profit $400k (approx.)
- 130+ seats with large outdoor dining/drinking area
- 15 years lease (minimal)
- $3,200 weekly rent.
- $300k re-fit just completed.
- Unique fully equipped live music atmosphere as part of the bar
- Conveniently located in the heart of the local CBD with high foot traffic exposure
- DA APPROVED March 2024;
- Extending premises up to 250 seats, with access to 3 x existing commercial kitchens
- Exclusive use of 206sqm external courtyard with approval for fitout, including outdoor bar and weatherproof retractable awnings (all seasons)
- Dual street frontage
Well-established over 20 years and well-known bar and restaurant.
- Welcoming premises with quality fit-out and recent upgrades and a seating for approx. 130+ patrons across internal and external areas.
- Licenced footpath seating for 48 at the front of the venue. Large bi-fold doors lead into a spacious restaurant with full bar and covered courtyard area.
- Recent (April 2024) upgrades of music production equipment and sound proofing ($100,000)
- Casual dining menu with broad appeal to cater to breakfast / lunch / dinner and families.
- New lease with 15 years left to run (5 x 5 x 5)
- On-premises licence with much sought-after Primary Service Authorisation (allowing the sale of liquor without food) with excellent selection of beers, wines, spirits and cocktail menu.
- Strong revenue and run under management.
- Well-equipped, nothing to spend (just undergone major internal renovation in late 2020/21 $300k+)
- Huge potential with DA Approval to extend premises, including extensive outdoor dining, with accountant financial projections exceeding $6 million turnover and $1 million profit.
Use Send enquiry and the broker will send the confidentiality agreement.
Note that some details of the business for sale are confidential and disclosure is subject to completing a Confidentiality Agreement and the discretion of the broker.
Listed by Paul Helliwell
Stock photo images may be used to represent the business on an unidentified basis.
Purchasers are required to make their own enquiries in order to verify the information provided.
Key facts
Details are as stated by the broker.
- Business type
- Bar
- Established
- over 20 years (from the broker's description)
Details are as stated by the broker in the description and have not been checked by Business For Sale.
Location
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