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Well-established Italian Restaurant in the Heart of Sydney Inner-city

Cafes And Restaurants , Food, Sales below $1m, Cafes And Restaurants

Sydney, NSW 19 Views

Asking Price $150,000 for 100 %

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SALE OR INVESTMENT DETAILS

  • Yes Finance Available (subject to approval)

Reference ID: 20950964

Highlights

  • Well-established Italian Restaurant in the Heart of Sydney Inner-city
  • Prime location in rapidly growing area of the city
  • Potential to increase catering sales and home deliveries
  • The sale includes fixtures, fittings, plant and equipment on the site

Executive Summary

Newly refurbished Italian restaurant in prime corner location with ample street parking and great foot traffic.

Location Details

Located on the ground floor of a residential building with car space and storage cage included in the lease. Internal and external seating for approx. 120 patrons. 

Potential

Fantastic opportunity to increase catering sales and home deliveries. 

Hours

Currently operates from Tuesday to Sunday.

Lease

Expires in 2023 

1 x 5-year option remaining 

Employees

18 x Staff (mix of FT and casual staff)

Run under management with Full-time manager in place 

Reason For Sale

The owner now wishes to devote his time to consolidating the Fast Food and home Delivery restaurants and hence has chosen to sell this site. 

History

The business was established 8 years ago and was the first business in the chain of restaurants.


About the Business

This sale comprises ONLY the plant, equipment, fixtures and fittings of this existing business. The vendor will also transfer the lease of this business to the purchaser. This sale DOES NOT include any goodwill, and access to existing financial performance of the business is limited. Anecdotal information will be released - but no access to Tax Records will be granted. The name WILL NOT be included in this sale. It is also expected that while the business currently operates as an Italian restaurant, new owners will change the focus to a different cuisine so as not to directly compete with the owner's other businesses, one of which is located in the same area. 

Key facts about this business:

-Prime location in rapidly growing area of the city 

-Car space and storage cage are included in the lease 

-Well-equipped bar as well as satellite keg beer station 

-Seating for approximately 120 customers

-Potential to increase catering sales and home deliveries 

-The sale includes fixtures, fittings, plant and equipment on the site 

-Stunning fit-out that is sure to impress, high quality throughout 

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



Nick Poulos

Business Sales Specialist

Mentored Business Sales, Corporate Business Sales & Acquisitions

M: 0410 076 114 T: 1800 858 696 E: nick.poulos@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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