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