Food, Beverage & Hospitality business for sale in Fitzroy
- Food, Beverage & Hospitality
- 139 Smith Street Fitzroy VIC 3065
- $1,500,000 (GST na)
VERY UNIQUE CONCEPT.......
Boston Brokers is delighted to welcome to the market this well established and popular restaurant entertainment venue business, which is ideally located within Fitzroy. The renowned business was established by our client and is only now, reluctantly, being offered to the market, due to our client's other business commitments.
Copacabana International restaurant/bar/function with live music, entertainment and dance permitted is priced for a timely sale. The venue has a 3am Liquor License including rare live music with extensive commercial kitchens. The bar and entertainment venue has main street visibility and excellent access to Collingwood, Fitzroy, Brunswick. Copacabana host’s Melbourne’s top Latin bands and performers, dancers and Capoeira, with a authentic 7 course Brazilian Churrascaria dinner - A total Latin experience.
This 1,000 square metre venue leases for $15,000 per month base rent plus outgoing expenses on a secure lease with new terms and option periods to be negotiated. All of the business's furniture, fixtures, equipment, liquor license and entitlements/permits will be included in the sale. Approx. $30,000 in inventory will be sold at cost at close in addition to the sale price.
As there is a limited number of large venues permitted for live entertainment and disc jockey driven amplified music and dance, this opportunity does note face a great deal of competition in its immediate vicinity. This opportunity allows its buyer to own a seasoned and successful location with the ability to operate until 3am with live entertainment and showcase Entertainment & DJs 7 days per week. The business boasts a contemporary Latin menu, but could thrive with a variety of concepts, in addition to operating as a lounge in the late evenings
New management may wish to take this opportunity in any number of directions. They may want to maintain the operation with its current concept or they may prefer to implement a high-end or an otherwise themed nightclub concept, launch a live entertainment venue, extend opening hours or any number of additional possibilities that it could thrive as. The business already has a website in place to promote the services offered.
- Well maintained venue and fitted to suit the trade
- Multi venue layout caters to a variety of dining and entertainment options, with 4 bars, seating for 300 plus patrons and separate private rooms and function areas
- They are open only 2 nights per week, Friday and Saturday plus private events/functions
- Long established with a history of success, and has built up an excellent reputation, catering to locals as well as celebrity clients and entertainers
- The distinctive location offers eclectic design, high end audio, DJ booth, exclusive live entertainment fully stocked bar or table service and VIP area, an array of entertainment under one roof.
- Owner spent the last 20 years building out the brand of the business and intellectual property
- The business already has a website in place to promote the services offered, and has a very established social media base.
- Competition is limited based on barriers to entry, including the fact that it is almost impossible to find spaces or can accommodate the number of patrons that this one can in Melbourne that even allow a food & beverage style similar business.
- Private function rooms, stage dressing rooms, office space for manager and staff
- Further, the events business has grown this past year and continues to be on a very positive trajectory.
The business generates a tremendous turnover in the region of $2,650,000 per annum, with high gross profit.
This is an excellent opportunity for a new owner, who with drive and ambition could take this thriving business to the next level; therefore, early discussions with Boston Brokers must come highly recommended to avoid disappointment. We are seeking a serious and financially qualified buyer with liquid funds and industry experience.
Asking Price Range: $1.5M
To learn more contact Boston Brokers 03 9041 5608. All showings by appointment only.
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|Last updated||18 Aug 2017|