This well-known and highly rated licensed King Street - Newtown restaurant is now for sale!
The hard work of establishing the Asian cuisine in this Inner West gem has been done. This is a well-positioned business with no competition and has prime street frontage in a prime 'eat street' precinct with parking at the doorstep. Fully licensed. 80 seats. Not many opportunities like these come to market regularly in the tightly held golden stretch of King Street. Recent refurbishment in 2024.
Offering unique and quality Asian food, the many 5-star google ratings are a testament to that. It has an impressive turnover of $20k per week. Open 6 nights a week for dinner with lunch on the weekends.
The lease has 3 years remaining, with a further 5 year option. Possibility to extend the lease upon application.
Perfect for an experienced operator in Asian cuisine.
The opportunity here is to capitalise on the location, its history and the existing customer base. Extend the trading hours and introduce further product offerings. Utilise all delivery apps. Training is available! Alternatively, grab the prime position and great lease and create your own offering!
Lease Details
The 5 x 5 year lease commenced September 22, 2023
With the Option, the lease expires on September 21, 2033
Premises Details
Approximately 129m2 of internal area including the upstairs dining and storage area and balcony. It has no outdoor footpath dining area. The business has an approximate 4.2m frontage onto King Street. Visibility and foot traffic for King Street is high. Fully licensed.
Indoor caters for approximately 80 seats, with approximately 36 downstairs with an additional 44 upstairs in the themed dining room. There is a dry storage area and an outdoor (undercover) balcony area that is used for staff that is located upstairs.
There is a full and well-equipped commercial kitchen suitable for an Asian restaurant with an impressive Wok cooking station as well as an imported duck roasting oven. There is a walk-in coolroom, walk-in freezer, exhaust and a grease trap. Rear Lane Access for Loading, Pick-Up & Delivery. Separate male and female toilets are also included. The condition of the business is excellent as a major refurbishment was completed in December 2023.
Staff Details
The business is run by the following:
2 x Full Time Chefs
1 x Casual Kitchen Prep/Allrounder
1 x Casual Kitchen Hand
4 x Casual FOH (including owners at 31 hours/week total)
Opening Hours
6 days
Tue Sun 5:00 pm - 10:00 pm
Sat Sun 12:00 noon 3:00 pm
Opportunity
The opportunity here is to capitalise on the location, its history and the existing customer base. Extend the trading hours and introduce further product offerings. Utilise all delivery apps. Training is available! Alternatively, grab the prime position and great lease and create your own offering!
**Weekly**
Weekly Sales $20,051
Rent $2,096
Wages $7,060
Net Profit $2,731
