The Local Lounge / Bar / Cafe - (Formerly Despana Tapas Bar)

Phone enquiries - please quote property ID 34110.

A fantastic venue offers a wonderful opportunity. Step back in time at Local Lounge, Glebe's global fusion Restaurant  & Bar. Channeling a speakeasy vibe. Exposed brick walls & plush banquette seating create an intimate , retro atmosphere
Recently rebranded,  Local Lounge offers a welcoming, rustic  atmosphere

Location:  
Situated on a main road shopping strip, amidst other eateries and close to the vibrant Glebe Markets, Local Lounge is ideally positioned to attract a steady stream of customers.

Features:
*  Established Reputation: Over 12 years in operation - current owner managing it for the past two years.
*  Asset Sale;  includes all fixtures, fittings,  equipment.

Key items:
*  Full commercial kitchen with char grill, stainless steel benches, multiple under-bench fridges, freezers.
*  Licensed Venue: Fully licensed with a PSA, offering the new owner the opportunity to develop it into a beautiful bar / licensed Cafe
*  Seating Capacity: Approximately 50 internal seats, plus additional licensed seating on the footpath,  roadside dining and in the rear courtyard.
* 3 + 5 Years remaining on the Lease. Good Landlord.  
* Rear laneway Car-space
* Alarm & Cameras
* Staff bathroom, office and bedroom upstairs
* IMPOS POS
* Ice Machine
* Rent is $1480/ wk  excl.  of GST
The Landlords managing agent is Richardson & Wrench. They will vett the incoming Lease applicant. To be successful the applicant will need extensive Hospitality experience and Financial stability.  

Further Potential:
The business is currently only trading 5 nights & one lunch service. The current owner  is selling due to other business commitments, there is significant potential for the right owner to expand the business.

Opportunity:Local  Lounge is an excellent opportunity. It’s priced modestly, less than it would cost to set up a similar business from scratch.

Turnkey Sale:
This is a turnkey Asset sale – walk in, and start trading immediately, with no additional investment required.
Please contact:

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