Toowoomba Licensed Cafe Restaurant in Unique Heritage Surroundings For Sale

Business description

Great opportunity to buy established multi award winning restaurant and function venue. Great reputation which is rapidly growing particularly for weddings. Regular repeat corporate business. Very loyal key staff. Very low lease which includes all major equipment so no large equipment capital outlay. Strong forward booking register!!

Property information

Real Estate:

Lease

Lease terms:

The lease is in the second term of a 2 x 2 x 5 year lease which started in June 2006. The current lease is $750 per month plus GST with a percentage rider on turnover after a target figure of $380,000pa.

This extraordinarily low figure lease figure includes all fixtures and equipment right down to knives and forks.

Leasehold rent:

$9,900 per annum

Location:

The location has ample free parking for about 90 vehicles and easily caters for bus and coach parties.

Premises details:

The business is situated in the heritage listed Toowoomba Railway Station in the city of Toowoomba Qld Australia.

Other information

Expansion potential:

There are enormous expansion oportunities available with this business, ie: To further develop the tourism and corporate markets.
To increase bus/tour group markets. To provide outside catering for private and corporate function which is virtually an untapped market in Toowoomba. To market restaurant branded products ie: chutneys sauces, biscuits etc.

Competition / Market:

The business has gained the reputation of being one of the best eating houses in Toowoomba and would rank in the top four in the city. As a function venue it is also in the top three being one of the few places that can seat 150 people.

Support & training:

Will be available.

Reasons for selling:

Owners wish to retire and focus on other business interests they are involved in.

Trading hours:

Currenty 6 days per week.

Furniture / Fixtures value:

$25,000 (included in the asking price)

Inventory / Stock value:

$10,000 (included in the asking price)