Internal Ref: 1P6381
Summary
Three Monkeys isn't just another Chapel Street venue. Nestled in the heart of Chapel Street, Prahran, it's a fully established, award-winning hospitality brand with a loyal following, good revenue,...
Location Details
Chapel Street
About the Business
Three Monkeys isn't just another Chapel Street venue. Nestled in the heart of Chapel Street, Prahran, it's a fully established, award-winning hospitality brand with a loyal following, good revenue, and an unmatched reputation on one of Melbourne's most iconic entertainment strips.
Three Monkeys has become a nightlife institution, loved for its epic cocktails, genre-hopping DJ lineups, and one of the best bottomless packages in Melbourne. Whether it's cozy midweek cocktails or weekends on the dance floor the venue delivers consistently across all fronts. In 2022 and 2024, it was awarded the Best Bar on Chapel Street.
The street frontage includes footpath trading for fourteen and on warmer nights the bifold windows open to the buzz of Chapel Street. Looking inside you will see the DJ on the left and then the dance floor with some seating that leads up to the high volume bar that services the whole venue. A side door leads out to the covered courtyard with plenty of seating that can include large groups and functions. To the rear of the courtyard are the three newly built toilets. Between the courtyard and bar is the walk in cool room and a decommissioned kitchen which is an invaluable storage and prep area for the bar. Upstairs there are two rooms with their own bathroom that are ideal for office workspace, stock and further storage.
Three Monkeys has an On Premises Liquor Licence until 1am with a capacity of 92, with rent coming in at $1900 a week including GST. The lease has two and half years remaining with the landlord happy to negotiate two further terms of five years each to the incoming tenant. All fixtures and fittings are included in the sale and there are no equipment or supplier contracts to be transferred.
The venue is run under complete management providing a hands-off passive income stream for the owners. So the venue can be taken on by an owner operator or those that want to invest to obtain a very good passive investment income. There are a complete set of books available that show a good income and an easy to run business with growth potential. Hence the vendors are looking for offers in the region of $345,000 for this exclusively listed fun spot on Chapel Street.
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