Premier Entertainment Venue for Sale in Canberra

Description

This is an exceptional opportunity to purchase a 10 year established hospitality venue in the historic Sydney Building.Seeking genuine buyers.This business offers the following key features:• High-exposure city central location with frontages on Northbourne Avenue and the newly renovated Verity Lane, in a precinct known for both lunchtime and night-time trade• Located near numerous offices and government departments, with further development to the light rail and adjacent surface carparks in the pipeline• Positioned inside the proposed City Core area, expected to have relaxed noise restrictions supporting a day and night economy• Includes the adjacent integrated Token Arcade & Kitchen and 1Up Cocktail Bar• Strong list of regular bookings from professional groups, student groups, special interest organisations and third-party event organisers• 7 distinct spaces, 4 bars, 2 outdoor areas, total capacity 420 people• Approximately 500 sqm internal area• Professional staff, hundreds of 5-star social media reviews and more than 10,000 social media followers• Fully equipped commercial kitchen, cool room / keg room, beer tap and post mix systems servicing all 4 bars• Turnkey business with asset value exceeding $225,000, with renovations in the last 3 years exceeding $150,000• Rent held at 2012 levels and to remain the same for the new operator• Landlord has offered lease renewal to approved buyers• Current management available by negotiation to assist with a smooth transition period• Strong revenue growth from $600k in 2019/20 to $1.5 million in 2022/23• General Liquor (2am) and food business licences, plus outdoor dining permits, to be transferred