Cafe with location, location, location
Sold
Business Description
Located in the heart of one of Adelaide's premiere beachside food destinations, attracting locals all year round and enjoying a bumper trade in the summer months.
The current owners have been at the helm for nearly 17 years and the business has grown and thrived during this time but is now ready for a fresh beginnings.
Offering an adaptable floorplan with large glass doors opening to the world outside - allowing the buzz of the beach atmosphere and the smell of the ocean
to drift past diners whether they choose to enjoy their meal inside or outside. Licensed for 63 patrons with a current turnover of approximately $14,000
per week excluding GST, they trade for breakfast, lunch and dinner 7 days per week, with international cuisine featuring strongly on the menu.
At a glance:
- Beachside dining - trading 7 days
- Turnover approximately $14,000 per week excluding GST
- Current cuisine has an international flair
- Lease runs until April 2022 with a further 5 year extension
- Restaurant liquor licence for 63 patrons
Tony Iasiello 0412 217 608 & Melanie Winter 0408 085 932
Extended Price Information
| Goodwill including Plant & Equipment | $295,000 |
|---|---|
| Stock at valuation (approx) | $10,000 |
| $305,000 |
Financial Summary
| Year | Sales | Return to Owner |
|---|---|---|
| 2014/2015 | $787,997 | $183,432 |
| 2015/2016 | $766,883 | $180,652 |
| 2016/2017 | $731,194 | $144,436 |
The return to owner is a net return to two working owners after all expenses and wages but excluding the vendors' wage.
Staff Summary
2 vendors, 3 full time and 7 casual staffLease Summary
| Current Rent | $7,791.66 per month incl. GST |
|---|---|
| Lease Term | 5 years |
| Lease Commencement | 1st May 2017 |
| Right of Renewal | 1 x 5 years |
| Outgoings | Paid by tenant |
| Adjustments | CPI annually |