Honky Tonks

3 days ago

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Summary

Honky Tonks – High Profits and Instant Cash Returns

Location Details

5 Garema Place, CANBERRA ACT 2601

About the Business

Based on its ongoing profit and sales performance, Honky Tonks is a business that should be able to pay itself off within 12 months.

The seller has set a very reasonable asking price of $350,000 + SAV and not for any reason other than he doesn’t want another winter season in Canberra so he is moving to Sydney.

There is a short lease concluding in 2021, but you may have the opportunity to forge a new relationship with the landlord before its conclusion. There is no demolition clause in the lease and the building is not heritage listed.

In setting an asking price of $350k, he has factored in the short lease nature. Even the fit-out and equipment, most of which are relocatable if you don’t get a lease extension, are worth more than $500,000.

The profit exceeds $400k per year with little effort, but it can’t be run from the Eastern suburbs of Sydney.

You will need experience in running hospitality venues, but most of all, you will appreciate the great value when you see it.

It has a large seating capacity of 200+ and coveted 7-day liquor licence that allows trading to 3am.

The aspect of the outside service (65 covered & 12 uncovered) area is arguably the best in our nations capital.

Contact exclusive business broker Frank Walmsley on sales@capitalcommercial.com.au by providing your full name and contact number, stating the fact that you are interested in owning Honky Tonks.

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