Skip to main content

Restaurant business for sale in Fitzroy

  • Restaurant
  • Smith Street Fitzroy VIC 3065
  • $199,000 (GST na)

Restaurant + Bar Fitzroy

Located within a bustling and vibrant night hub on Smith street, this busy Restaurant and Bar with a Thai inspired menu and sensational cocktail list, is in a league of its own in the area. The décor of this venue is sleek, cool and trendy, with glowing neon lights welcoming you on entry and an eclectic mix of artwork sprawled over its worn brick walls. The space consists of an open plan dining plus a large bar area complete with extra seating that runs the length of the venue.

The Restaurant + Bar is currently trading 6 days (5 lunches + 6 dinners) However, the demand to open for Saturday lunch & Sunday lunch & dinner is there, which would add another $3,000 - $4,000 to the current takings easily.

The venue also offers an large upstairs space (over 100sqm) which is currently being used as accommodation with the subtenants paying $300 a week towards the rent. However, this space could be totally subleased as an office, has its own separate rear access and the venue could recover between $25,000 - $30,000 off the total rental. Alternatively, the space could be converted into a separate function area to compliment the bar/restaurant downstairs.

Put simply, this venue is a playful, casual and affordable to suit everyone's taste and budget. The perfect time to buy is now before end of financial year. Call Nick 0419 589 852

BUSINESS HIGHLIGHTS:
Weekly sales of $16,000
Currently seats 60 inside + 12 outside
Situated on busy main road in the heart of Fitzroy
Modern design and fit out
Open 6 days (5 lunches + 6 dinners)
Over $450,000 spent on the refit less than 2 years old
Restaurant & Cafe Liquor License until 1am for up to 87 patrons
Amazing fully fitted commercial kitchen, all owned outright and included in the sale
Run 100% under management no vendor involvement
Opportunity to develop current menu or rebrand to new concept
11 years remaining on current lease
Rent $98,694 pa (approx.) with $300 currently being recovered by subtenants (2 staff living upstairs) pre covid this amount was $600 a week
4.8 ranking on google with over 160 reviews

ASKING PRICE: $199,000 WIWO

Call Nick 0419 589 852

Nick Gazeas
Just Business Brokers Melbourne
Nick Gazeas
Just Business Brokers Melbourne

Business Highlights

Business ID2016972576
Floor AreaAsk Business Broker
ParkingAsk Business Broker
Annual returnAsk Business Broker
Category
Last updated  29 Apr 2021
Map for Smith Street Fitzroy VIC 3065
Map for Smith Street Fitzroy VIC 3065Smith Street Fitzroy VIC 3065
Looking to buy this business?

powered by

So much work goes into buying a business, so why not let Valiant do the heavy lifting on helping you getting you the finance you need.

Valiant’s digital quoting tool will assess your eligibility and compare products from over 80 lenders, all in a few minutes!

Nick Gazeas
Just Business Brokers Melbourne
Nick Gazeas
Just Business Brokers Melbourne

Business Highlights

Business ID2016972576
Floor AreaAsk Business Broker
ParkingAsk Business Broker
Annual returnAsk Business Broker
Category
Last updated  29 Apr 2021
Just Business Brokers Melbourne
281 Lygon Street Brunswick East VIC 3057
Nick Gazeas
Just Business Brokers Melbourne
Nick Gazeas
Just Business Brokers Melbourne

Ask Nick Gazeas about this business

Nick Gazeas

Nick Gazeas

Just Business Brokers Melbourne

Call Broker
0419 589 852
CallEmail