Premier Entertainment Venue for Sale in Canberra

Description

An exceptional opportunity to acquire a 10 year established hospitality venue located in the historic Sydney Building.High exposure city central location with frontages on Northbourne Avenue and the renovated Verity Lane. The precinct benefits from lunchtime and night time trade, nearby offices and government departments, and future infrastructure developments including light rail and carparks.The business includes the adjacent integrated Token Arcade and Kitchen and 1Up Cocktail Bar.Key Features7 distinct spaces4 bars2 outdoor areasTotal capacity of 420 peopleApproximately 500 square metres of internal areaFully equipped commercial kitchen, cool room and keg roomBeer tap and post mix systems serving all barsLong list of regular bookings from groups and event organisersProfessional staff in placeHundreds of five star reviews and over 10,000 social media followersThe business is fully licensed with a general liquor licence to 2am, food business licences, and outdoor dining permits.The business has demonstrated strong growth in revenue from 600,000 in 2019 to 1.5 million in 2023.The asset value exceeds 225,000 and includes renovations completed within the last 3 years valued at over 150,000.Rent is held at 2012 levels with a lease renewal offered to approved buyers. Management is available to assist with a smooth transition.