Leisure & Entertainment business for sale in Fitzroy
- Leisure & Entertainment
- 141 Greeves Street Fitzroy VIC 3065
- Leasehold $150,000
Bad Frankie - 1P4946
You'll find Bad Frankie on Smith Street in Melbourne's Fitzroy, a great example of Melbourne's small bar scene; laid back, understated with an undeniable love for the quirky details. The venue has an incredible reputation with a regular clientele of locals, spirit enthusiasts and international travellers. It's pedigree is such that the venue was awarded Best Small Bar in Australia 2017 and in 2019 Best Bartender. Bad Frankie is at the heart of the Australian spirits community and holds events in-house including product launches, whisky tastings, state spirit tastings, distillery & bar takeovers as well as the usual functions. Bad Frankie is the go-to place for Australian spirit distillers and there is a friendly and welcoming vibe to the bar. The unique combination of Australian spirits and the signature Lamington Jaffle has ensured media interest and ongoing coverage over the years.
Bad Frankie has one large room with the bar on the right, which creates a comfortable intimacy with the bartenders that feels like you are part of the Bad Frankie family. Through the use of texture and locally sourced materials like wood and rope, and the original wall paper of vintage Australian life, the space evokes a sense of Australian nostalgia that is echoed through the Jaffle menu and reflected in the Cocktails. There is an ample preparation area behind the bar for the multitude of Jaffles that are served every night.
Bad Frankie has a restaurant and cafe licence until 1am with a capacity of 50. Rent is a low $900 week with no GST charged. There are seven and a half years left on the lease made up of 1.5+3+3 with the landlord happy to negotiate another term on transfer. There are no contracts or equipment leases in place. The landlord has waived 50% of the rent as per the Mandatory Code. The vendor has also applied to change the liquor licence to an On Premises Licence and this should be granted mid June.
Bad Frankie is a profitable business that suits an owner operator with industry experience. The low overheads and established reputation as a small bar of note ensure that there is little risk to a new owner. There is detailed financial information demonstrating a well run business. The venue is run under management at the moment as the vendor has stepped away from the business to look after his young family. The vendor is looking for offers over $150,000 for this exclusively listed venue.
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