Location is critical for the success of any restaurant. This restaurant/bar is in the perfect location, metres from the beach in one of the world’s most iconic holiday destinations – Surfers Paradise.
Operating for over 20yrs this themed restaurant has recently undergone a complete refurbishment offering customers a stylish, comfortable and casual atmosphere, while they have an unforgettable dining experience enjoying the sights and sounds of the ocean.
Completely under-management by 15 experienced staff. There is indoor seating for 100 with an additional 50 alfresco. FY24 turnover was several million generating a profit over $300k pa. P&E is realistically valued at $500k+ and a long lease is in place. More importantly this is a business serving an established and growing market - visitor numbers to the Gold Coast per year is staggering; over 4.15 million overnight domestic visitors, 7m+ day trippers and boosted by international tourists forecast to increase 2.5% yearly.
Reason for selling – Recent health and family issues means this husband-and-wife team, who have owned the business for over 8 years, now need to sell the business with some urgency. For this reason, the business is being offered well below market value, it was originally advertised for $895k. Equivalent businesses in the same area have sold close to or above $1m.
This is a turnkey opportunity to own a restaurant/bar, in an irreplaceable position, that has the potential to reward a new owner who is prepared to invest their time with exceptional returns.
$545k + SAV
Eamonn Bicknell: xxxxx
