North Shore stunner! Run it as it is or change the concept!
This is a really interesting option. Whilst it is a beautifully presented business as it is with an absolute heap of opportunity, we have priced it so well that you could just take the site and do something fresh.
Busy corner location in an affluent location and it’s a BIG place! This has been a (well-known) restaurant before and a gastro bar among other things.
There is a super strong lease to 2039 here and the rent is $50k – which is really good for this space. The owners took over the space in very late 2021 and opened in January 2022. They spent $400k on a refurbishment and the depreciated asset value is still around $285,000.
OPTION 1
This is running as a restaurant right now (around $20k per week) and completely under management. I think this is a GREAT concept and you could easily run it is, grow it, and make some excellent capital gain! It just needs some focus and energy from a dynamic new owner. The current owners have a few different venues and are looking to wind down towards retirement, so this is your chance!
There is a super strong lease to 2039 here and the rent is $50k – which is really good for this space.
The owners took over the space in very late 2021 and opened in January 2022. They spent $400k on a refurbishment and the depreciated asset value is still around $285,000.
OPTION 2
Bring your own new concept. There is no way you would be able to set up a place for anywhere close to what you will buy this for. It is pretty much a blank canvas and would suit any sort of cuisine, bar or concept. This is a wealthy area and it enjoys a huge catchment.
There is a good kitchen in place, a bar area, and plenty of seating. It could be anything! Maybe you want to take it back to more of a bar format with food?
The depreciated asset value is $285,000 but the owner is asking just $199,000 so it is fantastic buying!
HIGHLIGHTS
- Great corner site
- Heaps of parking nearby
- Fabulous lease to 2039
- Quite capable of being successful with current concept OR stamp your mark!
- Serious capital gain to be made
This is fantastic buying at this price so do NOT miss out!
Asking just $199,000 plus stock
Michael Zhang, 022 323 0779, michael.zhang@linkbusiness.co.nz
Nick Giles, 021 676 832, nick.giles@linkbusiness.co.nz
***Some details of the business for sale are confidential and can only be disclosed upon contacting the broker and a completion of a Confidentiality Agreement. Due to the confidentiality of this business a stock photo image may be used to represent the business.
#restaurant #opportunity #hospitality
