Premier Entertainment Venue for Sale in Canberra

Description

Business type: hospitality venue

Location: Sydney Building, Canberra CBD

Trading history: approximately 10 years

Internal area: approximately 500 sqm

Business overview

Established hospitality venue in a central city location.

Revenue growth: strong

Regular bookings: established

Day and night trade: established

Location

Frontage: Northbourne Avenue

Additional frontage: Verity Lane

Nearby offices: numerous

Nearby government departments: established

Light rail access: nearby

Venue

Distinct spaces: seven

Bars: four

Outdoor areas: two

Total capacity: 420 people

Internal area: approximately 500 sqm

Included venues

• Token Arcade & Kitchen
• 1Up Cocktail Bar

Bookings

Professional groups: regular

Student groups: regular

Special interest organisations: regular

Third-party event organisers: established

Team and audience

Professional staff: in place

5-star social media reviews: hundreds

Social media followers: more than 10,000

Equipment

Commercial kitchen: fully equipped

Cool room / keg room: included

Beer tap systems: installed

Post mix systems: installed

All four bars: serviced

Assets

Asset value: more than $225,000

Renovations in the last three years: more than $150,000

Turnkey setup: in place

Lease

Rent level: held at 2012 rates

Rent for new operator: unchanged

Lease renewal: offered to approved buyers

Financial performance

Revenue 2019/20: approximately $600,000

Revenue 2022/23: approximately $1.5 million

Licences and permits

General Liquor licence: 2am

Food business licence: in place

Outdoor dining permits: in place

Transfer to buyer: included

Transition

Current management: available by negotiation

Transition support: available

Opportunity

Established CBD hospitality venue.

Multiple bars and trading areas.

Strong booking base.

Existing licences, fitout and equipment in place.