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Iconic Bar/Restaurant in Prime location within the Northern Beaches

Cafes And Restaurants , Food, Corporate Sales above $1m, Hospitality And Accommodation, Cafes And Restaurants

Manly, NSW 32 Views

Expressions of interest over $1,299,000 for 100 %

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SALE OR INVESTMENT DETAILS

  • $2,734,391 Gross Sales per annum
  • $380,794 Profit (Normalised EBITDA)
  • Yes Finance Available (subject to approval)

Reference ID: 20676839

Highlights

  • Iconic Bar/Restaurant in Prime location within the Northern Beaches
  • Long-established and recently refurbished
  • 100% run under management
  • Well-equipped, nothing to spend

Executive Summary

Long-established and recently refurbished bar & restaurant located close to the beach in a tourist hotspot and thriving part of the suburb. 100% run under management.


Location Details

Focal point of the bar/restaurant/cafe culture in the area with a large internal dining room and bar area, expansive covered courtyard, licensed footpath seating and secure car parking spaces for the owners.


Potential

There are excellent opportunities to expand daytime opening hours (mid-week), leverage the recently established food delivery partnerships and increase the venues seating capacity.


Skills

This business would suit a purchaser with experience in the hospitality industry who is looking for an operation with an excellent reputation that they can get involved in either as a hands-on owner or as an investment, leaving the day-to-day operations to the experienced team that is already in place.


Lease

Expiry December 2022

1 x 5-year option


Employees

3 x Full-time

5 x Part-time

21 x Casual


History
Established 20+ years ago and is very well-known and recognised in the community and beyond.

About the Business

The Bar & Restaurant serves an excellent selection of beers, wines, spirits and cocktails, as well as offering a creative, casual dining menu with expansive offerings to suit all tastes. The business offers a strong and consistent revenue base with a capable team in place, including management.


Key facts about this business:

- Well-equipped, nothing to spend

 - Prime location in key area

 - Excellent customer reviews and ratings

 - Seating approx. 130+ patrons

 - Well-established and well-known

- 100% under management


For more information on this opportunity, please contact the undersigned:

Paul Smith
Business Sales Specialist

Mentored Business Sales, Corporate Business Sales & Acquisitions

M: 0420 550 433 T: 1800 858 696 E: psmith@mentored.com.au


Disclaimer:

Due to the confidential nature of the sale, images used may be stock images and not representative of the business for sale. Total earnings, EBIT or EBITDA, includes add backs relevant to the current owners. Add backs may include, owner's salaries, directors benefits, personal expenses, non-recurring expenses, one-off expenses, capital costs, depreciation and generally any costs relevant to the current owners.

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