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2 x Award-Winning & Iconic Bars/Restaurants - Northern Beaches Locatio

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

Northern Beaches, NSW 101 Views

Asking Price $2,100,000 for 100 %

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SALE OR INVESTMENT DETAILS

  • $4,767,342 Gross Sales per annum
  • $802,914 Profit (Normalised EBITDA)
  • Yes Finance Available (subject to approval)

Reference ID: 20676839

Highlights

  • 2 x Award-Winning & Iconic Bars/Restaurants - Northern Beaches Locatio
  • Seating approx. 130+ patrons and 125 (potential to increase to 350+)
  • 100% run under management
  • Well-equipped, nothing to spend

Executive Summary

2 well-established and award-winning bars & restaurants located close to the beach in a thrilling tourist hotspot. Both are 100% run under management and can be sold together or separately.


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

The businesses are ideal for an ambitious buyer to push this business into its next phase. The extension (full architectural plans have been developed) can increase the seating capacity from 125 to 350+ for one of the bars.

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


Skills

The businesses 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

Bar #1:

Expiry December 2022

1 x 5-year option


Bar #2:

Expiry July 2021

2 x 4-year option


Employees

Bar #1:

3 x Full-time

5 x Part-time

21 x Casual


Bar #2: 

2 x Full-time

2 x Part-time

10 x Casual


History

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

About the Business

The Bars & Restaurants serve 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.

This business is ideal for an ambitious buyer to push this business into its next phase, delivering a world-class entertainment venue that will continue to make its mark on Sydney's Northern Beaches.

The extension (full architectural plans have been developed) can take the venue to upwards of a 350 capacity. 


Bar #1: $1,199,000 + SAV

Bar #2: $975,000 + SAV


Key facts about this business:

- DA-approved plan for one bar

- One of the bars has won 12+ awards 

- Well-equipped, nothing to spend

- Prime location in key area

- Excellent customer reviews and ratings

- Seating approx. 130+ patrons and 125 (potential to increase to 350+)

- 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: paul.smith@mentored.business


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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