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1 Genge Street
City ACT 2601
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1 Genge Street City ACT 2601

  • Hotel, Motel, Pub & Leisure
  • 687 m²
  • For Sale, $2,200,000

$5,000,000 Turnkey Fit Out Premium Position in Canberra's CBD

    EOI - 23/03/24

    Are you ready for a game-changing investment in Canberra's thriving hospitality scene? Then look no further than Wilma and The Pearl.

    Following a respectful change of direction by the current owners (5 of them), the highly sought-after bar and restaurant in Canberra's CBD is now looking for its next owner.

    Despite a Covid hangover and rising cost of living, the businesses generated a turnover of $4,300,000 + and a gross profit of $3 million plus in the 2023 financial year.

    The venue is ready for transformation into a pub, late-night bar, or nightclub to build on its proven past success. A unified hospitality leader must write the next chapter and take the business to the next level.

    The establishment boasts an impressive $5 million fit-out with no expenses spared, featuring fully equipped bars on multiple levels. Positioned in the heart of Civic, it attracts locals and visitors to the nation's capital.

    Enjoy unrivalled foot traffic and parking, generating a steady stream of patrons. Strategically positioned, it ensures visibility and accessibility, not to mention the two new luxurious hotels set to grace the neighbourhood within a mere 100 metres of the location.

    Secure a long-term lease, with favourable terms from a landlord committed to fostering success.

    Revel in expansive, rent-free outdoor areas, perfect for al fresco dining and vibrant events.

    The current owners, at significant expense, added the second story, which means it's effectively 300 sqm rent-free!

    Abundant function spaces and private rooms cater to every celebration and gathering. Ample office and storage facilities ensure seamless operations and the possibility for extra income.

    The business is licensed for 510 patrons, and the monthly rent for the nearly 700 sqm footprint is $31,000 per month, including GST and outgoings.

    The 7-day liquor licence permits service between 7am and 4am, and the venue is not plagued with noise complaints that Braddon-based venues endure.

    Although Wilma earned accolades, securing a spot on Australia's best new restaurant list in the Sydney Morning Herald and among Australia's top 80 restaurants by the Gourmet Traveler, there is an opportunity to infuse fresh energy and a new identity into this esteemed restaurant and bar arrangement.

    The groundwork is laid, and the potential for further innovation and growth is boundless.

    As the curtains close on one chapter, a new one eagerly awaits. Take the reins and redefine excellence in Canberra's premier culinary and nightlife realm.

    Expressions of interest are sought and close on 23/3/24. Please email sales at capitalcommercial.com.au with your full name and mobile expressing interest in Wilma and The Pearl.

    Property Highlights

    Floor Area687 m²
    Land Area687 m²
    Parking10 x Onsite parkings
    Building TypeWhole building
    Annual ReturnAsk Agent
    AvailabilityTenanted
    Property ID2019041031
    Category
    Last updated  19 Mar 2024
    Map for 1 Genge Street City ACT 2601

    Property Highlights

    Floor Area687 m²
    Land Area687 m²
    Parking10 x Onsite parkings
    Building TypeWhole building
    Annual ReturnAsk Agent
    AvailabilityTenanted
    Property ID2019041031
    Category
    Last updated  19 Mar 2024
    Unit 6,level 2/80 Emu Bank Belconnen ACT 2617

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