This is an exceptional opportunity to purchase a 10 Year established hospitality venue in the historic Sydney Building.
Seeking Genuine buyers.
This business ticks all the following boxes:
- High-exposure City Central location: Frontages on Northbourne Avenue and the newly renovated Verity Lane, in a precinct known for both lunchtime and night-time trade.
- In the vicinity numerous Offices/ Govt departments with further development to the light rail and adjacent surface carparks in the pipeline
- Inside the proposed 'City Core' area that will have relaxed restrictions on noise, fostering a day and nighttime economy
- The business includes the adjacent, integrated 'Token Arcade & Kitchen' and '1Up' Cocktail bar
- A long list of regular bookings from professional groups, student groups, special interest organisations and 3rd party event organisers.
- 7 distinct spaces, 4 bars, 2 outdoor areas - total capacity 420 ppl
- approximately 500 sqm internal area
- Professional staff, hundreds of 5-star social media reviews and 10,000+ social media following
- Fully equipped commercial kitchen, cool room / keg room. Beer Tap and post mix systems serving all 4 bars.
- This is a turnkey business with an asset value of $225,000+, renovated in the last 3 years to the value of $150,000+
- The rent has been held at 2012 levels and will remain so for the new operator. The landlord has offered a lease renewal to approved buyers.
- By negotiation, the current management will stay to facilitate a smooth transition period
- The business has seen stunning growth in revenue, growing from $600k in 2019/20 to $1.5 million in 2022/23.
- General Liquor (2am) and food business licenses, outdoor dining permits will be transferred.
