Fully Licenced Restaurant | Located in Historic and Beautiful Hotel | Popular for events

$109k WIWO

Description

This is an exciting opportunity to pick up a fully equipped and operating restaurant located in a historic and beautiful hotel just a stones throw from the heart of the city.

The stylish art deco themed restaurant ise located in the same building as a 120 bedroom hotel and surrounded by other hotels, offices and private residences that help to support the trade of this business.

The Restaurant is a well established part of the local dining scene and is a popular spot for weddings and private gatherings.

The restaurant has a liquor licence for 140 guests inside and another 60 outside on the deck that is surrounded by idyllic gardens.

The business is currently run under management and there is a lot of untapped potential for further growth, it could be argued that it is one of the very best venues for a restaurant in Canberra.

The business is priced for a quick sale so if you are an experienced operator in the market looking for a restaurant then this opportunity will represent amazing value for money.

Lease Info

The restaurant enjoys a 10 year lease which commenced in 2021.

Trading Times

Currently the restaurant is open 4-10pm Tuesday through Saturday but there are plans to reopen for lunch in the coming weeks.

Size of Premises

The restaurant enjoys 352 square meters and is licensed for 140 guests inside and a further 80 outside on the terrace.

Opportunity

The owners have all moved away from Canberra and are looking to find a buyer to take the business into the future. The current offering is popular but the business needs a push and a committed owner operator to drive it. There is plenty of demand for weddings and private gatherings. The venue also works well as a music venue and Sunday sessions would work well also. Opening the venue regularly for breakfast and lunch will also drive growth.

Weekly Sales & Turnover

Turnover (inc GST)

$42,195

Rent

$3,082 (for both sites) plus outgoings

Reference No: RIPR1608

Business Listed by

Robert Illsley

Hospitality Consultant, Licensed Business Broker Canberra ACT @ GSE Hospitality Brokers

Robert Illsley is a licensed Real Estate Agent running the NSW Regional and Canberra office of GSE Business Consultants who specialise in selling food businesses.

I am very passionate about hospitality and have been involved in the industry for much of my working career. I trained as a Fine Dining Restaurant Manager and I have also been involved in the Wine Industry having spent 6 years working for one of th UK’s most well respected merchants.

In 2014 I set up my own specialty coffee shop which I ran for 4 years and I discovered a passion for broking when I came to sell my business. After a couple of bad experiences with brokers I discovered GSE and Paul showed me the right way to sell a business and he helped me to achieve a great price for my café in a reasonable time frame.

I understand that café owners are hard working people and when it comes to selling you want to entrust the sale to somebody who is as passionate about your business as you are.

I believe that selling a business works best in partnership between the broker and the seller and I work hard to gain an intimate knowledge of how your business works and what makes it special and unique and my passion and knowledge for the industry allow me to speak with authority when I am talking to buyers.

It is never too early to develop an exit strategy so if you have been thinking about selling or just want some help to understand what the process will be like when you do, then don’t hesitate to get in touch with me at any time.

Robert Illsley 0415 243 750

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The Prospective Buyer of the Business agrees to be bound by this deed as follows: All information of a confidential nature disclosed to the Prospective Buyer (including to Agents, legal & other advisors) may not be disclosed to any other party prior to, during a subsequent to the entering into by the Prospective Buyer of a contract.

All records of the Business, financial, intellectual or otherwise are confidential and must remain so. This deed does not prevent any party from making a disclosure required by the law and does not include information normally in the public domain.

The Prospective Buyer acknowledges information supplied by GSE Business Consultants: Is provided by and on behalf of the Business Owner. Is not guaranteed by GSE Business Consultants and it shall be the responsibility of the Prospective Buyer to do whatever is reasonably necessary at its own expense to verify such information GSE Business Consultants are not acting as an investment or financial advisor.

The Prospective Buyer confirms GSE Business Consultants, having supplied the material requested by the Prospective Buyer does so as agent only and as such bears no responsibility for the accuracy thereof or any errors contained therein and the Prospective Buyer will not hold GSE Business Consultants liable for any loss or damage sustained with respect to reliance on such information.

The prospective buyer hereby agrees not to approach any staff member or the business owner either directly or indirectly. When visiting the venue as a customer this must be done with absolute discretion.. Furthermore, the prospective buyer agrees not to discuss the sale of the business with anyone without first disclosing that person’s contact information to GSE.

All information and material provided under this deed will be returned, destroyed or otherwise dealt with in accordance with the Business Owner’s instructions if no contract is entered into. All contact with the business owner must be organised through GSE unless the business owner is advertising through The Six Steps to Sale Program offered by GSE.

The prospective buyer hereby accepts that their contact information may be shared with the seller of any business on which an inquiry has been made. GSE will not share the contact information of the prospective buyer with anyone outside of GSE with the exception of the business owner as referred to above.
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Canberra ACT