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POPULAR BAR/FUNCTION VENUE – PRAHRAN

POPULAR BAR/FUNCTION VENUE – PRAHRAN

This is arguably the ultimate bar – venue in one of Melbourne’s most trendy and cool nightlife spots. The venue has forged a reputation of excellence for over a decade. The venue offers two separate and distinct spaces offering completeness and suitability for any kind of event, party or function. From jazz tunes to crooner sounds and thumping club anthems, this venue caters for all needs. This versatility and adaptability in use of space, backed by a philosophy of providing the best possible hospitality experience, makes this venue arguably one of the pioneers in leading the ever-changing entertainment front across Melbourne’s nightlife. This is one cool place. Check it out.

To inspect call or text Michael on 0423 287 048 TODAY and settle in time for the busy summer months ahead!

BUSINESS HIGHLIGHTS:
Function & Bar space open 3 nights per week Thurs, Fri & Sat
Average sales of $48,850 a month
Net profit $12,820 a month after vendors salary of $50,000 p.a
Under SEMI Management (owner does all bookings but has full time manager)
Ground floor holds up to 35 patrons and Level 1 up to 114 patrons
On Premise liquor licence until 1am – 7 days
Currently 48 forward bookings till mid-2018 and increasing weekly

BUSINESS STRENGTHS:
All food supplied by caterer for past 5 years with small kitchen downstairs for serving across both bars
Easy to operate venue with high profit margin
Great location on Greville Street in the heart of Prahran
Financials available for qualified buyers
Current vendor has owned the venue for 7 years
All equipment owned outright and included in the sale

LEASE AND RENT:
Commencement date: October 2011
Term: Five (5) years
Further terms: Three (3) further terms each of five (5) years
Current monthly rent: $6,530 + GST approx.
Rent reviews: 3% p.a
Lettable area 200m2 approx.
*Upstairs area has plans for a refurbishment and all plans and engineering documents are available

PRICE $250,000 + Stock

To inspect call or text Michael on 0423 287 048 TODAY

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