The Offer
The cafe business known as the Blue Swimmer at Seahaven is for sale on walk-in walk-out basis. On sale agreement, the current lease would be assigned to the buyer (subject to the lessors approval) or a new lease could be directly negotiated with the landlord.
The current lease has till December 2016 with an option in place for further three years till December 2019. The annual rent increases are fixed at 5% with all outgoings paid by the landlord with the exception of building insurance.
The Business
The business was established in December 2010 and has been successfully operating under current management in its current popular form as a casual gourmet cafe/restaurant. The Blue Swimmer has an excellent reputation and enjoys repeat custom with many local patrons and out of area visitors regularly frequenting the business for breakfast, lunch and dinner.
The business currently opens 5 days a week (it is closed on Monday and Tuesday). Breakfast and lunch is on offer Wednesday to Sunday. Dinner is on offer Friday and Saturday during the low season; Wednesday and Thursday are added in the peak season between November and March and during school holidays.
The business is currently run by two principals with casual help from a team of experienced staff, 2-3 in the kitchen and 2-3 on the floor. Cortney currently handles front of house whilst Caroline cooks up the delightful meals in the Kitchen.
The turnover has been gradually increasing with sales of $885k achieved in FY 2015, netting the owners approx. $160k per annum (inc their wages). Turnover can be increased with more opening days and less annual closures. The cafe currently closes for two weeks in July and over the Christmas break.
The Premises
The cafe restaurant set up is beautifully styled with bright blue and white walls on rustic floorboards. The fit-out is of high quality and is designed to create a warm and inviting space. The restaurant can seat patrons inside and under the covered outdoor patio. For those that enjoy alfresco dinning, there are also tables outside on the front pavement. The kitchen is modern and very well equipped.
The premises also include a spacious bar and are fully licenced to 2 am and offer a great wine list.
The Location
Gerroa is a coastal town in the Municipality of Kiama, in the Illawarra region of NSW, 133 kilometres south of Sydney. Nearby notable towns are Gerringong, Kiama and Berry.
Gerroa is situated at the northern end of Seven Mile Beach and the head of Crooked River. It is a popular holiday town and a popular permanent residence for retirees. Many houses have impressive views of the beach and Mount Coolangatta. The population is 497 according to the 2011 census, although the population swells during Easter and the Christmas/New Year break. Nearby is Seven Mile Beach National Park, a well-regarded area for bird watching, walking and fishing. Hang gliding, paragliding, sailing, windsurfing, and surfing are also enjoyed here. A golf course is situated just north of the town.
Agents Comments
Beautifully styled inside and out, this is a charming cafe with great reputation and good repeat business. If you are looking for a great lifestyle by the sea whilst earning a decent income doing what you love in the kitchen or front of house then this opportunity is for you. Vendors are motivated to sell and have priced the business at 1.7 times net earnings, which is well below the industry range so contact us for more details and to arrange an inspection.
