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Two Blind Mice built for growth.

Business Details

In 2020, the current owners invested the best part of $1,000,000 in creating a world-class fit-out in a world-class location.
 
The result is a remarkable hospitality offering.
 
All the hard work has been done, so why sell? That is an excellent question: one owner wants to travel overseas, and the other is committed to other hospitality projects.
 
The financial performance paints a picture of a business poised for growth.
 
Turnover in 2023 was over $44,000 per week, excluding GST, and the owner's profit was approximately $140,000.
 
The business runs well without the day-to-day involvement of either of the two owners. Even though they love the customers and a committed and passionate staff runs the industry, we can only imagine what might emerge here with new passion and direction provided by new ownership.
 
There is a demolition clause within the lease, and the sellers believe there is little chance of it being exercised. Still, regardless, they are prepared to provide additional compensation above the landlord's legal requirements if the demotion clause is exercised.
 
Located in the tightly held and ever-lucrative Curtin shopping precinct, if you are interested in owning, please email sales@capitalcommerical.com.au

Financial Snapshot

Reporting Period 2023 Weekly Average 2022 Weekly Average Weekly Average
Sales $2,307,553.00 $44,376.02 $1,428,109.00 $27,463.63 $0.00 $0.00
PEBITDA $140,568.00 $2,703.23 $123,305.00 $2,371.25 $0.00 $0.00
Rent $170,460.00 $3,278.08 $110,987.00 $2,134.37 $0.00 $0.00
Owners Wages $74,516.00 $1,433.00 $35,825.00 $688.94 $0.00 $0.00

Business Summary

Curtin, Australian Capital Territory
Bars/Night Clubs.

The premises are subleased.

• Lease commenced: 24 November 2021
• Lease expires: 23 November 2031
• Term of the lease: 10 years
• Option periods: 10 years
• Bank guarantee: 3-month bank guarantee, allow an amount of $38,480.01 plus GST
• Base rent: $148,000.00 plus GST per annum
• Current monthly rent: $12,826.67 plus GST
• Current monthly outgoings: $1,540.00 plus GST
• Rent review: 4% increase per annum. Review date is each anniversary of the commencement date.
• Public liability insurance: $20 million
• SQM: Approx. 198 SQM

7 FOH Staff
4 FOH Supervisor
1 Sous Chef
1 Junior Sous Chef
3 Chefs
1 Apprentice Chef
1 Venue Manager
2 Dishies
1 Head Chef
Monday - Closed
Tuesday - 10:00am – 10:00pm
Wednesday - 10:00am – 10:00pm
Thursday - 10:00am – 10:00pm
Friday - 10:00am – 10:00pm
Saturday - 8:00am – 10:00pm
Sunday - 8:00am – 10:00pm
Partial Under Management

Enquire Now

Sales Summary

Sale Status : Sold

Sale Method : Private Treaty

Investment Amount : $550,000

Stock at Value : $15,000.00

Finance Options :

Frank Walmsley

0400 446 605

sales@capitalcommercial.com.au