A rare chance to own one of Manly’s most iconic bars
A landmark speakeasy in Manly has hit the market, offering investors and hospitality operators a chance to own an iconic Sydney bar.
Located at Retail 1, 17–19 Central Avenue, The Cumberland is a multi-award-winning speakeasy hidden behind a vintage fridge door in a bodega-style deli with a fit-out valued at approximately $1.2 million. Named after the Parish of Manly Cove in the County of Cumberland, it gives a nod to the suburb’s historical significance and serves a selection of over 250 whiskies, natural wines, craft beers and an extensive themed cocktail menu including prohibition classics.
“Family-owned and designed, it presents a once-in-a-lifetime opportunity to take over an already famous, fully fitted and equipped venue in Manly,” says listing agent Klaudia Brown, senior executive – investment sales and leasing at Belle Property Northern Beaches Commercial.
“It’s an incredibly rare chance to establish or continue a standout destination in one of Sydney’s most vibrant hospitality precincts.”
The ground-level retail frontage gives the illusion of a quaint 19th-century European deli with cured meats hanging in the window and bottled delights decorating the shelves along with character detailed joinery, custom mosaic floors and hand-rendered finishes.
Through the fridge door, a spiral stone-clad staircase leads to the bar’s hidden gem, which is an intimate underground space. The devil is in the details, with antique brass and copper accents, marble benchtops, and a handmade leather banquette seat that wraps around the walls of the intimate 75-seat venue, designed to transport guests to another time and place.
The Cumberland’s design is well recognised. It was named Small Bar of the Year at the 2021 Australian Bartender Bar Awards and also received an Honourable Mention in the International Design Awards and a Silver Award at the 2020 Sydney Design Awards.
Brown says interest in the property has been strong so far.
“We had huge interest from various owner occupiers, hospitality groups, who would like to take over and continue running the same business concept which is proven to be very popular,” she says.
“We are receiving many enquiries and there are a few offers on the table, it is an extremely competitive campaign. There is a certain price point that has been set by the owners, considering the level of fit out, location and already famous name of the venue. The first person to match vendor’s expectations, would be the lucky owner of this gorgeous bar venue.”
While the property is currently owner-occupied, it offers potential vacant possession, with an estimated rental return of $150,000 to $175,000 plus GST per annum. A leasing offer of $160,000 plus GST per annum is also on hold, presenting the flexibility to purchase the property with a lease in place.
With its iconic beach culture and thriving tourism scene, along with its 18-minute ferry ride to Sydney CBD, Manly offers the perfect backdrop for a hospitality venue like this to thrive. Locals and visitors alike seeking out experience-led bars and restaurants have already made The Cumberland a hotspot, allowing for the new operator to take advantage of having a pre-existing clientele.
