Stunning Restaurant Bar. Owner Needs Out! $299,000
About this business for sale in North Shore CityStunning Restaurant Bar. Owner Needs Out! $299,000
Asset value $1m!!! Extraordinary site and beautiful set-up on North Shore
This is a fantastic opportunity for someone to take over this magnificent North Shore space. It is bright and airy with a number of different seating areas, a fantastic bar area and a huge open kitchen. There are massive doors leading out to a sunny outdoor seating area on the pavement.
I sold this to the current owner and so I know it well. They took what was already a great fit out and invested heavily to bring it bang up to date. Absolutely no expense was spared here. So much so that the depreciated asset value is a little over $1m!
Whilst the current trading name does not form part of this sale, the owner is doing around $2m per annum in sales and, with a rent of $143,000 per annum, there is good money to be made here.
The space is great with approx. 412m² in total. 360m² inside and the rest is courtyard and storage.
- Lease to March 2030!
- Great rent for this space
- Enviable North Shore location
- Stunning fit out with a great chef’s kitchen
If you are smart operator with a concept to go in here – be it a restaurant, gastro pub, cafe bar or other, this is just fantastic buying. I have just slashed thr price down to $299,000 plus stock and there is absolutely no way you could set this up again for anything near this asking price.
With that fabulously long lease a secure future is assured.
Asking just $299,000 plus stock (if any)
+64 9 555 6039
+64 21 676 832
*Profit: Sellers Discretionary Earnings, also known as EBPITD (Earnings Before Proprietors Compensation, Interest, Tax and Depreciation). This is the estimated total discretionary earnings (profit) for a business, usually based on historical trading.