Do you want to run your own 70+ seat restaurant in a prominent location with an added option of purchasing and developing the freehold land and building? This is a rare opportunity to do just that.
Kon Thai restaurant is located in the famous hotel, restaurant and café strip facing directly onto Nepean Highway and just a short walk to Frankston pier and beach. The first Thai restaurant to be established on the Mornington Peninsula in 1989 its original owners are now offering their business and the 279 square metre site (internal 232 square metres) for private sale. Features include a full commercial kitchen, attractive bar seating area, traditional Thai floor seating alcove and private mezzanine floor dining.
Kon Thai, which means ‘Thai People’, has been serving delicious traditional and unique Thai inspired meals for the last 28 years to regular customers, tourists and a new generation of diners. They are constantly looking for new ways to expand their cuisine, which includes a Thai street food menu and their famous chilli crab dish. This profitable restaurant, which currently opens 6 nights per week, has become well-known for its friendly service and high quality food.
As the business and freehold are both for sale your options are to purchase both the business ($89,000) and freehold ($950,000) at the same time, including all depreciable commercial kitchen equipment or the business separately for $89,000 with the option to buy the freehold at a future stage. Nominal lease payment is $59,000 per annum but the current owner will consider more attractive terms if the business is sold first.
With a frontage to Nepean Highway of 7.5m and a depth of 36.6m, rear parking for 4 cars and laneway access, the property may accommodate up to 3 x 2 storey apartments at the rear (SCTA) while maintaining a smaller 50 - 70 seat (approx.) café/restaurant with mezzanine floor at the front on a Business 1 zoned parcel of land. Whichever way you choose to develop the property its key location in the centre of town will mean that it continues to be an excellent investment property into the future.
If you would like further information or would like to inspect the premises and meet the owners contact Alan Maguire, Maguires Real Estate on 0418377038.
You will find more information about Kon Thai on their website: www.konthai.com.au and on Facebook and other restaurant review sites.
Price for Business: $89,000
Price for Freehold: $950,000
