Internal Ref: One Thai
Summary
Positioned right in the middle of the popular Sandringham Bay Road shopping strip and only 150 metres walk to the beach this iconic Thai restaurant is on the market for the first time in 15 years.
Location Details
40 Bay Road
Positioned in the middle of the popular Sandringham Bay Road shopping strip and only 150 metres walk to the beach. The two-storey building is 200 square metres with a 100 square metre front of house and kitchen below and owner apartment above.
Potential
The potential for expansion is huge with the popularity of this beachside suburb and the move to higher intensity living. A 100-unit development is currently being constructed directly across Bay Road and this will funnel more customers into the business when completed.
Hours
5pm - 10pm 6 days per week (closed Tuesdays)
Reason for Sale
Retirement.
About the Business
Positioned perfectly in the middle of the popular Sandringham Bay Road shopping strip and only 150 metres walk to the beach this iconic Thai restaurant is on the market for the first time in 15 years. Boasting a loyal local following ‘The One Thai Sandringham’ is popular all year round and booms in the summer months.
The restaurant boasts a wide range of traditional Thai dishes including Thai salads, soups, curries, noodles and rice dishes featuring Tom Yum and Clay Pot pineapple fried rice. Open from 5pm – 10pm six nights per week (closed Tuesdays), the business has a turnover of $250,000 + per year. Overheads are low as it is operated by a couple with no extra staff.
The two-storey building is 200 square metres with a 100 square metre front of house and kitchen below and a family living area consisting of three bedrooms, bathroom, kitchen and living area above the restaurant. There is a liquor licence covering service from 7am – 11pm most days and includes the outdoor pavement (subject to council fees).
Rent is $5,730 (approx.) per month and includes a two-car garage and courtyard with rear laneway access. The four-year lease has 18 months remaining and 4-year options. The restaurant is air-conditioned and natural gas is connected. The landlord has indicated that any new owner would be allowed to extend the restaurant to incorporate the rooms above if required.
The potential for expansion is huge with the popularity of this beachside suburb and the move to higher intensity living. A 100-unit development is currently being constructed directly across Bay Road and this will funnel more customers into the business when completed.
The business benefits from being in a high-income area with a reputation built over 15 years of operation and situated in a safe and attractive location with potential for growth. The restaurant can easily be transformed into a modern Thai eatery, a cafe by day and bar/restaurant in the evening or a trendy Vietnamese, Korean, Chinese or Indian style gourmet establishment – anything is possible.
So, if a sea change with benefits is what you are looking for please request an inspection and a chance to discuss the business with the owners.
Price: $195,000 plus SAV (approx. $1500 - $2000)
Contact: Alan Maguire, Maguires Real Estate
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