Leisure & Entertainment business for sale in Richmond
- Leisure & Entertainment
- 1 Church Street Richmond VIC 3121
- Leasehold $225,000
UNDER OFFER - Leadbeater Hotel - A Large Pub and Live Music Venue - 1P5811
Like the experience the possum it is named after, the Leadbeater Hotel is helping bring live music back from being endangered for all to enjoy. Located on the corner of Church and Victoria Streets in Richmond, the Leadbeater Hotel is a live music and entertainment pub. The band room caters to all music lovers, with a diverse line-up of performers hitting the stage regularly. There's also weekly trivia, drag bingo and DJs, plus a pool table. Whether it's a quiet beer or live music performance the Leadbeater delivers.
There is footpath trading down one side of the venue. Inside the pub, the bar has undergone a recent revamp, is much more comfortable and caters for all the regulars and those not there for the entertainment. Then through to the smokers' room with its own pool table. If you are there for the music then it is in through the external double doors to cavernous band room. The extended stage can cater for the largest of groups. The wrap around bar then looks after the crowd. Behind this a large commercial kitchen, offices and cool room. A recent change is that the accommodation upstairs has been changed to private dining booths, giving patrons a little privacy to watch the game in peace from the entertainment downstairs. The vendors have put a lot of effort in making the Leadbeater Hotel a comfortable night out, whatever the occasion.
The Leadbeater Hotel has a General Licence with no capacity limits up to 12pm (space for 400) and then a capacity of 189. Planning permission has also been given to convert the first floor in to a 100 capacity roof top beer garden. Rent for this very large venue comes in at $3150 including GST per week. There are eleven years left on the lease made up of 1+5+5. There is an extensive fixture and fitting list included in the sale with no equipment or supplier contracts being transferred.
The Leadbeater Hotel is owned by a small hospitality group that is looking to downsize their portfolio with the venue being run under semi management at the moment. So there is opportunity for an experienced owner operator to take on the venue or more likely another hospitality group. There are plenty of revenue streams to hand over. Even one from the tram lines, for renting a toilet on site. The venue is in good condition, has decent forward bookings and the team on site will do all they can to help with any transition. There are a full set of financials which justify the asking price of $225,000 (reduced price).