Stunning Restaurant Bar. Owner Needs Out! $299,000

North Shore City

$299,000

Proposed Usage
Tourism & Hospitality
Description:
Property ID
1c1nkhg

Stunning Restaurant Bar. Owner Needs Out! $299,000



Asset value $1m!!! Extraordinary site and beautiful set-up on North Shore

This is a fantastic opportunity for someone to take over this magnificent North Shore space. It is bright and airy with a number of different seating areas, a fantastic bar area and a huge open kitchen. There are massive doors leading out to a sunny outdoor seating area on the pavement.

I sold this to the current owner and so I know it well. They took what was already a great fit out and invested heavily to bring it bang up to date. Absolutely no expense was spared here. So much so that the depreciated asset value is a little over $1m!

Whilst the current trading name does not form part of this sale, the owner is doing around $2m per annum in sales and, with a rent of $143,000 per annum, there is good money to be made here.

The space is great with approx. 412m² in total. 360m² inside and the rest is courtyard and storage.Lease to March 2030!WaterviewsGreat rent for this spaceEnviable North Shore locationStunning fit out with a great chef's kitchen

If you are smart operator with a concept to go in here - be it a restaurant, gastro pub, cafe bar or other, this is just fantastic buying. I have just slashed thr price down to $299,000 plus stock and there is absolutely no way you could set this up again for anything near this asking price.

With that fabulously long lease a secure future is assured.

Asking just $299,000 plus stock (if any)

Reference: EL01129
Ref: EL01129
Timestamp: 20180816054518

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