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Food, Beverage & Hospitality business for sale in Richmond

  • Food, Beverage & Hospitality
  • 1 Church Street Richmond VIC 3121
  • Leasehold $150,000

UNDER CONTRACT - The Eureka Hotel - 1P3871

The Eureka Hotel, located in Richmond at the junction of Church and Victoria Street is classic on the outside, and modern and comfortable on the inside. After changing owners and purposes over the years, the venue has nostalgically reinstated it's original name, by the Reardon family, who have owned and operated pubs in Melbourne for three generations.

There is footpath trading on two sides of the venue. A large L shaped front bar is comfortable, open and inviting, well suited for the locals and those visiting from neighbouring suburbs. To the side of the venue, the enclosed balcony bar opening out on to Victoria Street to cater for the smokers. A 24 tap beer system provides a rotation of classic and boutique beers and ciders all year round.

In the centre of the venue there is a large fully equipped commercial kitchen. This not only looks after the two bars but opens out to the huge band / entertainment space and stage at the back of the venue. This has its own long bar and toilets with separate entrance to cater for the functions and events held there. Upstairs there is an accommodation area with five rooms, at present fully occupied that brings in just over $1000 a week in rent and in case of development, is inside the redline drawing.

Uber Eats has recently been started and that is bringing in an additional $1500 a week income for the kitchen.

There is a long lease of seventeen years made up of 2+5+5+5. Rent is $3600 a week including GST. The Eureka has a general licence with off premises till 11pm and on premises till 1am. The maximum capacity numbers of 189 only starts at midnight and only includes the public bar area, not the function space. There are no security restrictions and there is an extensive fixtures and fitting list.

The venue suits a hospitality group or those that know about pubs and live entertainment and can maintain what is already a busy well known venue. There are books but they really are typically hospitality in nature and can only be a guide but a lot of information can be shown on due diligence. So the vendors are looking for offers in the region of $150,000. (Price Reduction)

Business Highlights

Business ID2014011754
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Last updated  14 Jan 2019
Map for 1 Church Street Richmond VIC 3121
CRE Brokers
U4/10 Lakewood Boulevard Carrum Downs VIC 3201

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