, Surry Hills NSW

For Sale

Food/Hospitality

$169,000 + GST

    • Brochure [ File 1 ]
    • Franchise No
    • Staff Full Time 2
    • Staff Part Time 1
    • Staff Casual 1
    • Annual Turnover 1005000
    • Annual Gross Profit 638000
    • Annual Ebit 99000

Business Headline : Sophisticated, underground Bar. Prime location in Surry Hills.


Price : $169,000


Category : Food/Hospitality, Alcohol/Liquor, Restaurant, Cafe/Coffee Shop


This is a rare opportunity to acquire a cool, intimate bar within Sydney\'s style and culture hub. The venue and operations have been fully set up by an established industry icon.


Key Features include:



  • Beautifully appointed, bespoke, recent fit-out. Minimalist, industrial, recycled elements.

  • Bar has seating capacity for 120, offering seasonal cocktails, Australian craft beers, organic and biodynamic wines.

  • Food offerings include Mediterranean, anti pasta and tapas style cuisines, beautifully complimenting beverage options.

  • Venue hosts live artists on Thursday nights and DJ.s Saturday nights.

  • Price discounted due to genuine family health issues. Owner will be returning O/S.

  • Generous 5 + 5 lease term to Sep 2027.

  • Strong social media base and outstanding feedback from online review platforms.

  • Extensive promotions have been undertaken to initially market the venue.

  • Trading hours day 4pm to midnight, Monday to Saturday.

  • All design, branding, social media elements are available and in place to ensure a solid platform of success for the new owner.

  • Owner has secured best price contracts for F&B costs, leveraging off strong reputation.

  • All systems and processes, licenses, certificates and approvals have been set up by owner who is a renowned pioneer in the small bar movement in Sydney. Bar is fully operational, compliant and expertly set up. Therefore the timely and arduous process of set up is avoided and business risk is minimised.

  • Sales on track during current ramp up phase. Full trading target achievement expected by July 2018. Contact broker for financials.


Potential



  • Increase trading to seven days per week.

  • The kitchen could easily support a variation in the current menu based on owner\'s creative ambitions.

  • Potential to build on event and venue hire revenue as this is a highly desirable and unique site for large private functions or product launch events.

  • Potential further review and relaxation of lockout laws in June 2018 by NSW Government may result in extended trading hours being available.

  • Opportunity for savvy marketer to ramp up the promotions and social media platforms to increase venue profile.

  • Current owner has millinery display and workshop themed within the site and would be open to continue supply of famous hats to customers on demand with commission to new owner.


To receive further information please complete the below registration: http://www.abbagroup.com.au/?p=4102496#enquire-now

Annual Rent : $130,000 -
Weekly Rent : $2,500


Annual Turnover : $1,005,000 -
Weekly Turnover : $19,327


Annual Gross Profit : $638,000 -
Weekly Gross Profit : $12,269


Annual Ebit : $99,000 -
Weekly Ebit : $1,904


Premise : Leased


Lease Commencement : Sep 2017


Lease End : Sep 2022


Lease Option:
5 years



Franchise : No


Approximate Stock Value : $12,500


Year Purchased : 2017


Year Established : 2017


Days Trading : 6


Staff :
2 Full Time - 1 Part Time - 1 Casual


Staff Salaries : $182,000


Reason for Sale : Partner unwell, owner returning overseas


Location : Surry Hills


Business Potential : extend trade, boost promotions, menu variation