Summary
This Iconic outlet has been a Gold Coast insitution for more then 40 years, changing with the times, but always serving the crowds.
Revenue
$380,000 pm
Rent
$66,000 pm
Expenses
$380,000 pm
Net Profit
$0 pm
Location Details
3/15 Orchid Ave, Surfers Paradise
The Avenue is located in arguably the most sort after spot on the famous Orchid ave. Orchid Ave is the party capital of the Gold Coast and home to a number of upmarket venues. Serving some of the best food through the day, transforming at night.
Potential
I purchased the venue roughly 2 years ago, thinking that I understand the Pub, restaurant and night club sceen in Australia. Unfortunately I can confirm that I dont know enough and as such I am looking to sell this amazing business to an experienced operator.
The Avenue, as every Gold Coaster will tell you, has been arround forever, and is truly iconic.
It is one of, if not the only outlet which trades as a restaurant, through the day, transforming into a busy pub at night, and then night club into the wee hours of the morning.
Skills
This outlet needs someone who has been in the Restaruant, Pub and Night club scene for a while, and understands how people gravitate to outlets, and how to attract new customers through a variety of acts and performances.
An understanding of financial bookkeeping will be useful.
An understanding of a fully functional kitchen, security, licensing would be advantageous
Basically an experienced Restaurant/ Pub/ Night club operator would thrive in this venue.
Hours
11am to 2am every day
Lease
5 years + 5 years
Landlord will negotiate a new lease with new owners
Employees
25 staff
3 Managers
1 Chef
2 Sous Chefs
19 Casual waiters and bar men
Reason for Sale
I have over extended myself, and I dont have enough knowledge and experience to run an operation of this size - That is why this business has to be purchased by an experienced operator.
About the Business
The Avenue has been operating in Surfers Paradise for more then 40 years - it is iconic and well known by all Gold Coasters.
The Avenue boasts two extremely special awards
1. Best Beer in Australia for 3 years
2. In the top 10% of restaurants in the world on trip advisor.
The Ave has hosted many big acts and put on many well know performances.
The Avenue is the only outlet on Orchid ave (which is the party central of Gold Coast) which opens at 11am every day and trades through to 2am.
Our customers range from 6 years old to your grand mother or grand father. We have families coming in for a delicious lunch or dinner. We have groups coming to celebrate a 21st, or 50th. We have loads of hens and bachelor parties. Then late at night the outlet transforms into a night club, where the average age is 20.
If you are an experienced operator, this is the best location for a venue in the Gold Coast.
History
Two brothers started the venue, and had it for in excess of 40 years, I took over from them in 2023.
The Original Avenue was located across the road from its current location, but moved roughly 8 years ago.
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