The word ‘iconic’ is bandied around an awful lot these days but, surely, the word truly deserves to be used in reference to The Red Elephant Restaurant. It has been in the same spot for 38 years and owned by the same person for the last 33 years! It is truly an Auckland icon and, even if you haven’t been to this restaurant, you can’t fail to have noticed the – you guessed it – ‘red elephant’ statue sitting proudly outside it year after year.
Nick Giles of LINK Business Broking is giving someone the chance to own this icon and, more importantly, save it for all the Aucklanders who crave the delicious Thai food that this legendary restaurant serves. Nick says, “Sadly Mr Elephant has packed his bags and moved up north to the beach, but the restaurant is still very much there!”
News of the restaurant’s closure was, perhaps, premature. Giles explains: “The owner, after 33 years, had decided that it was just time to take life a little easier and spend his later years with family. He had decided simply not to continue not thinking that anyone would necessarily want to take it over and, so, he decided not to enter a new lease.”
Nick continues: “At first, the thought was to sell the site and assets for someone to set up a new restaurant with a different theme and, this is still something on the cards. However, such was the outpouring of affection for this place on social media, that it was decided that the business would be put up for sale. It even made the TV news, and the owner was interviewed on a morning slot!”
Nick says of the business, “The Red Elephant has been such a successful business for so many years. The owner has enjoyed a very good life out of this place. It’s a big restaurant and I’m still shocked at how beautiful it looks after so many years. It really looks like it was set-up yesterday!”
There is a new lease in place for a lucky new owner and there is a very large commercial kitchen with large walk-in cool rooms. The décor of the place is simple, elegant and, most importantly, able to be easily converted to any type of cuisine if needed. There is seating for 100 to 120 people. There is a full bar and even a waiting room / lounge area!
Amazingly the restaurant has a liquor licence that runs from 8am to 3am 7 days a week! Unheard of these days. What an amazing place for functions!
Nick says: “The location is super-interesting, and thousands of cars drive past every day! It is on Khyber Pass Road on the intersection of Boston Road right by the main motorway on-ramp. This is a destination restaurant and there IS parking!” The lease includes 10 undercover car parks, and, during the evening, there is free street parking all around.
The business continues to be busy, and it is widely regarded as the best Thai food in Auckland. The Chef has been here also for 33 years! An unbelievable innings and it shows the love for the place. All the staff are passionate about The Red Elephant, and it shows when you dine there.
Nick says of the opportunity: “The sale represents such a rare chance to buy a piece of Auckland’s hospitality history. Because the original plan was to sell just the chattels for someone to reinvent the restaurant, we decided to go to market at just $149,000. Even for the site and assets, this was a great price, but to buy the restaurant along with all the Intellectual Property as a ‘going concern’ at this price – well, it’s just incredible.”
It would be such a great story to see The Red Elephant Restaurant survive and go on to thrive for another 33+ years. Nick finishes: “The owner would love to know that his legacy is in safe hands. Nothing would give him greater pleasure than to hand the reins over to a new owner.”
The business is for sale now at just $149,000 plus stock. Contact Nick Giles at LINK Business Broking at nick.giles@linkbusiness.co.nz or on 021676832.
**Disclaimer: This article has been previously published on the NZ Herald.
