Summary
Well established Functions and events venue located Melbourne city fringe. A host to a variety of corporate, private functions and events, successfully operating 1-2 nights per week for 14 years.
Rent
$1,480 pw
Location Details
The business is centrally located and easily accessible situated at the edge of the Melbourne CBD. The location is serviced by a variety of public transport and surrounded by luxury high density residential apartments, large businesses and corporate
Potential
The business is ready for growth and would benefit any new owner to simply take over and run status quo or ramp up with Database Marketing, Brochure Drop, Social Networking, Price Increases, Extended trading. There is sufficient profit to allocate a marketing budget if required. Over 100K in confirmed bookings can be taken over with immediate revenue paid. All Covid payments to the landloord have been paid, ready for the new owner to just take over. New lease terms available. Off premise sales are a secondary income to help with cash flow.
Skills
An adavtage but not necessary skills required are:
Beveage knowledge in Liquor
Business management
RSA and Licensees First Step certificate required
Hours
On premise Hours 10am - 3am the following day - Seven days a week.
Off premise Hours 10am - 11pm - Seven days a week.
Lease
Retail Lease
Reason for Sale
The owner has been involved in the business since its launch in 2010 and decided it is time to pursue other career interests after the successful operation of the business for many years.
About the Business
Successful, versatile and well-established Lounge / Bar / Functions business strategically located in a highly sought after city fringe area. With little local competition, the business plays host to a variety of corporate and private functions and events, successfully operating on only 1-2 nights per week for over 14 years.
Versatile well-established Lounge / Bar / Functions business in a highly sought-after city fringe area.
With little local competition, the business plays host to a variety of corporate and private functions and events, successfully operating on only 1-2 nights per week for a number of years.
The business has an excellent set up for up to 200 patrons and purposely kept as a simple operation easily run by a single owner / operator and 2 casual staff. The business offers Huge Growth Potential over the existing 1-2 trading nights, and always has a healthy 4-6 month pipeline of advanced function bookings throughout the year.
KEY POINTS
• Only 1 - 2 Nights pw
• On Premise licence till 3am – 7 days per week
• Off Premise license till 11pm – 7 days per week
• 366m2 fully renovated and equipped premises
• Licensed 200 patrons
• 6-month pipeline of advanced bookings
• Consistent Year on Year Cashflow
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