Bar & Restaurant - Surry Hills

Surry Hills, NSW

Food/Hospitality / Alcohol/Liquor, Restaurant, Takeaway Food
Expressions Of Interest…
Listing ID1884573

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A stylish and popular licenced restaurant and bar in the heart of Surry Hills, known for its casual dining, best of Australian produce, together with an exciting cocktail offering and full bar.

Location Details
Approx. 144 sqm tastefully and stylishly fitted out ground floor premises in the heart of Surry Hills.

Potential
There is potential to increase revenue by looking to increase trading hours across Monday to Friday during the day with different lunch options for mid-week.

The business could develop a menu to appeal to corporate events/meetings. There is also an opportunity to add takeaway/delivery options such as UberEats, Menulog and EatNow.

Skills
The Bar & Restaurant would suit a purchaser with experience in hospitality who is looking for a business with an excellent reputation that they can get involved in as an owner-operator and take it to the next stage.

Hours
Open for dinner 7 nights a week and for brunch and lunch on the weekends.

Lease
Expires 28th February 2021 with 1 x 3-year options. Base rent $13.4k per month plus GST. Outgoings approx. $20,000.

Employees
10x FT
4x PT
5x Casual
+ Owner involvement (part-time basis)

About the Business
An opportunity exists to acquire a multi-award winning inner-city restaurant and bar with primary service authorisation liquor licence.

Set up in 2015, this is a sleek, atmospheric, contemporary restaurant/bar located on the ground floor of a grand Victorian terrace in Surry Hills, in the heart of the innercity bar and restaurant scene.

The fit-out conveys a warm, relaxed, contemporary feel with neutral colours, warm timbers and eclectic decorative touches.

The venue is fully licenced with a sought-after Primary Service Authorisation licence that allows the service of alcohol without food. Specialising in a range of boutique beers, carefully selected wines and specially crafted easy-drinking cocktails with a menu of share plates and dishes that incorporate bold flavours and the best of Australian produce.

Since opening, the restaurant has been awarded numerous industry awards including People's Choice NSW Restaurant of the Year in the 2016 Sydney Morning Herald Good Food Guide.

For FY2017 the revenue for Restaurant & Bar was $1.4M revenue for the first half of FY2018 already having reached $0.8M (to December 31st). There are excellent opportunities for growth considering that the venue doesn't open during the day midweek and there is currently no takeaway/delivery food offered. An expansion of the menu and opening hours could provide excellent scope for increasing revenue.

There is owner involvement on a part-time basis in the business, however, the restaurant has a cohesive team of 13 staff in place and a talented Head Chef who crafts the menu and runs the kitchen.

Key points:
- A stylish and popular licenced restaurant and bar in the heart of Surry Hills
- Known for its casual dining which incorporates bold flavors and the best of Australian produce.
- Offers an exciting cocktail offering and full bar.
- Restaurant & bar has carved out a first-class reputation through customer ratings and reviews.
- Winners of numerous industry awards in recognition of its unique, quality offering.


For more information on this exciting opportunity, please contact the undersigned:

Richard Ames
Business Sales Specialist | Business Sales Sydney
Ray White Business Sales, Corporate Business Sales & Acquisitions
M: 0421 490 501 T: 1800 858 696 E: richard.ames@raywhite.com

Or

Mark Levitt
Business Sales Specialist | Business Sales Sydney
Ray White Business Sales, Corporate Business Sales & Acquisitions
M: 0431 004 488 T: 1800 858 696 E: mark.levitt@raywhite.com

For more details complete the contact us form on this page or go to www.rwbs.com.au and complete our online confidentiality agreement. Use the reference ID 1884573 to search for the business.

Disclaimer:
Due to the confidential nature of the sale, images used may be stock images and not representative of the business for sale. Total earnings, EBIT or EBITDA, includes add backs relevant to the current owners. Add backs may include, owner's salaries, director's benefits, personal expenses, non-recurring expenses, one-off expenses, capital costs, depreciation and generally any costs relevant to the current owners.