Internal Ref: B14606
Summary
This asset sale offers a restaurant/bar fit-out (plant & equipment) with the transfer of the lease only. Due to a partners dispute It is being offered at less than fitout cost.
Rent
$885 pw
Location Details
Beyond the Palms is an oasis in the heart of Prahran - a vibrant dining and entertainment precinct, well known for its night life.
Lease
5x5 which commenced in August 2021.
Reason for Sale
This magnificent bar/restaurant is only up for sale due to a partner dispute.
About the Business
Beyond the Palms is an oasis in the heart of Prahran - a vibrant dining and entertainment precinct, well known for its night life.
This venue offers patrons a world of fun in a vibrant, tropical Miami/Cuban atmosphere, with booths, tables and a bar. Owners did not spare any expense when setting up this bar/restaurant and have fitted a custom built electronic roof that can close in bad weather, so the business can run all year round.
Versatile venue which offers alfresco dining and partying as well as an enclosed venue, during inclement weather, provided by the retractable roof. The venue can offer themed nights, pop up menu items, DJ’s, live music etc. The venue is fully licenced until 11pm.
This asset sale offers a restaurant / bar fit-out (plant & equipment) with the transfer of the lease only. Fit out cost was around $1 million. Due to a partners dispute It is being offered at less than fitout cost.
Features very good rent of only $885 per week for this city fringe area and a lease of 5x5 which commenced in August 2021.
Currently not trading, however, takings were $60,000 per week when this bar/restaurant was running.
This is an outstanding opportunity to take over this business and start trading again as is or make additions or changes. All the hard set up work has been done. You will be hard pressed to set up a bar/restaurant like this at this price point.
This is definitely worth an inspection.
For more information and to arrange an inspection, contact Chris Panagiotidis on 0433 582 533 or Elle Likopoulos on 03 9566 7300.
Ref: B14606
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