$5,000,000 Turnkey Fit Out – Premium Position in Canberra’s CBD - Ready for next owner.

Business Details

Are you ready for a game-changing investment in Canberra's thriving hospitality scene? Then look no further than Wilma and The Pearl. 
 
Following a respectful change of direction by the current owners (5 of them), the highly sought-after bar and restaurant in Canberra's CBD is now looking for its next owner. 
 
The venue is ready for transformation into a pub, late-night bar, or nightclub to build on its proven past success. A unified hospitality leader must write the next chapter and take the business to the next level. 
 
The establishment boasts an impressive $5 million fit-out with no expenses spared, featuring fully equipped bars on multiple levels. Positioned in the heart of Civic, it attracts locals and visitors to the nation's capital. 
 
Enjoy unrivalled foot traffic and parking, generating a steady stream of patrons. Strategically positioned, it ensures visibility and accessibility, not to mention the two new luxurious hotels set to grace the neighbourhood within a mere 100 metres of the location.
 
Secure a long-term lease, with favourable terms from a landlord committed to fostering success. 
 
Revel in expansive, rent-free outdoor areas, perfect for al fresco dining and vibrant events. 
 
The current owners, at significant expense, added the second story, which means it's effectively 300 sqm rent-free! 
 
Abundant function spaces and private rooms cater to every celebration and gathering. Ample office and storage facilities ensure seamless operations and the possibility for extra income. 
 
The business is licensed for 510 patrons, and the monthly rent for the nearly 700 sqm footprint is $31,000 per month, including GST and outgoings. 
 
The 7-day liquor licence permits service between 7am and 4am, and the venue is not plagued with noise complaints that Braddon-based venues endure.
 
Although Wilma earned accolades, securing a spot on Australia's best new restaurant list in the Sydney Morning Herald and among Australia's top 80 restaurants by the Gourmet Traveler, there is an opportunity to infuse fresh energy and a new identity into this esteemed restaurant and bar arrangement. 
 
The groundwork is laid, and the potential for further innovation and growth is boundless. 
 
As the curtains close on one chapter, a new one eagerly awaits. Take the reins and redefine excellence in Canberra's premier culinary and nightlife realm.
 

Financial Snapshot

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Business Summary

Canberra, 
Hair dressing, beauty salons & day spas,
Bars/Night Clubs.
The premises are subleased.
• Lease commenced: 7 November 2017  
• Lease expires: 1 November 2028
• Term of the lease: 10 years
• Period for first renewal: 5 years from 2 November 2028 to 1 November 2033
• Period for later renewal: 5 years from 2 November 2033 to 1 November 2038
• Bank guarantee: 3-month bank guarantee, allow an amount of $84,307.08 plus GST
• Base rent: $277,950.00 plus GST per annum
• Current monthly rent: $27,752.36 plus GST 
• Current monthly outgoings: $350.00 plus GST  
• Annual increases: CPI increase per annum. Review date is each anniversary of the commencement date.
• Public liability insurance: $20 million
• SQM: Approx. 687 SQM
Parking and public transport: Plenty available, tram 150m, Canberra center parking 150m
 

1 Restaurant Manager
1 Head Chef
1 Bar Manager
1 Assistant Restaurant Manager
1 Assistant Bar Manager
10 Wait Staff
8 Bar Staff
3 Harvac Group Executives
Monday 5:30pm – 9:30pm
Tuesday 5:30pm – 9:30pm
Wednesday 5:30pm – 9:30pm
Thursday 5:30pm – 9:30pm
Friday 5:30pm – 9:30pm
Saturday 5:30pm – 9:30pm
Sunday 5:30pm – 9:30pm

Enquire Now

Sales Summary

Sale Status : For Sale

Sale Method : By Negotiation

Investment Amount :

Stock at Value : $0.00

Finance Options :

Frank Walmsley

0400 446 605

sales@capitalcommercial.com.au