Summary
Sales of $2,900,000 within the first 10.5 months - On track for FY23/24 sales to increase by 10% - Annual profit of $700,000 pa - Under full management - Fully Licensed until 1am for 98 patrons
Location Details
18 Napier Street
About the Business
Every neighbourhood needs its landmark “go to” restaurant & bar and this venue in many ways, defines everything people love about Essendon. Its chic, elegant European inspired fitout is paired beautifully with its sumptuous Italian menu. The venue first opened its doors in 2023 and fast become a real favourite with the locals. If you are looking for the ultimate Italian Restaurant & Bar, then stop looking, as this is it. With excellent sales and growing fast, a secure ten-year lease, great rent and in an unbeatable high-profile location – it doesn’t get any better than this Essendon icon.
BUSINESS HIGHLIGHTS:
Sales of $2,900,000 within the first 10.5 months of trade
On track for FY23/24 sales to increase by a further 10%
Annual profit of $700,000 pa
Run under full management
Secure 10 (5+5) year lease expiring May 2034
Annual rent $66,000+GST pa approx.
Fully Licensed until 1am for 98 patrons overall
Strong social media presence of almost 8000 followers and growing
Seats 85 patrons inside + 13 outside (footpath)
Open 7 nights + 2 lunches on weekends
On point chic fitout with stunning European influences
Popular food destination – High profile shopping strip in affluent area
Ideally positioned on popular Napier Street with great foot traffic near Mt Alexander Road, the restaurant is easy to access, as it’s close to public transport and surrounded by ample parking for customers. The restaurant has real character that has been beautifully renovated, and the decor is all first class. The fitout is sophisticated yet relaxed, and the vendors have kept the charm of the building whilst giving the venue a refined and modern European facelift. The restaurant has a large versatile floorplan including four separate internal dining spaces plus outside (footpath) seating for up to 98 patrons in total, making the venue very popular for private functions and large group bookings. There is also a full commercial kitchen with A grade equipment including pizza ovens, prep area, grill/hot plates, grease trap, walk in cool room plus plenty of storage.
This restaurant has provided the current vendor with strong sales and a very healthy net profit over the past 12 months. However, the vendor is now ready to move on so is a genuine seller and will offer the purchaser a comprehensive and professional handover to ensure business continuity after settlement. This restaurant is primed and ready for a purchaser to take over and operate seamlessly from Day 1 as all the hard work building up the goodwill and reputation has been done. Call Marc 0412 359 907.
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