Internal Ref: 1P6720
Summary
Heroes is a multi-level late-night entertainment destination combining a vibrant rooftop bar, Asian-inspired interiors and fully equipped karaoke facilities across four levels. Entering from Bourk...
Location Details
Bourke Street
About the Business
Heroes is a multi-level late-night entertainment destination combining a vibrant rooftop bar, Asian-inspired interiors and fully equipped karaoke facilities across four levels. Entering from Bourke Street, guests make their way through the convenience store frontage and up the elevator before arriving into an immediate visual statement. Think Blade Runner meets Singapore hawker market, colourful, eclectic and deliberately chaotic, with each level offering a different experience.
The rooftop level features bright lighting, colourful tables and its own dedicated bar. The original roof has been opened up to create a relaxed open-air environment, while retaining the venue's street-facing façade and CBD presence. One level below is a long, vibrant room featuring bold Asian-inspired décor, shiny black tables and bar seating. The former commercial kitchen has been decommissioned and converted into a substantial bar area, but could readily be reinstated if required. This level also features a stage, providing an opportunity for live entertainment and public karaoke. For guests seeking a more private experience, the next level down features three fully equipped private karaoke rooms. The basement provides an additional large private karaoke room, fully fitted with screens, microphones, lighting and sound systems. The basement also houses the venue's toilets, cool room, glycol beer system with lines servicing all floors, and storage facilities.
Heroes has a late night on premises licence until 3am (seven days a week) with a capacity of 200. There are ten years left on the lease made up of 2+5+3 with rent coming in at $3950 a week including GST. All fixture and fittings are included in the sale and there are no supplier or equipment contracts in place.
Heroes is currently being operated under management, with the owner now focused on his medical practice. Despite operating just two nights per week, Heroes is currently generating more than $20,000 in sales across those two nights, while the karaoke component continues to grow strongly. There is considerable opportunity to expand trading into additional evenings, develop private functions and corporate bookings, increase karaoke utilisation, activate the venue's entertainment offering and maximise the rooftop and multiple bar spaces. Heroes represents an opportunity to acquire a distinctive, fully fitted CBD entertainment venue with a late-night licence and significant capacity for growth. The venue is particularly suited to an experienced hospitality operator, entertainment group or partnership looking to take an established concept and build it into a full-week trading business. The vendors are looking for offers in the region of $150,000 for this exclusively listed, unique rooftop CBD opportunity.
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