08 8361 3074

Funky CBD Speakeasy Bar & Restaurant

$245,000 + SAV ($20,000 approx.)

Business Description

This unique and much-loved business, created by two friends, has been in operation since 2014.

The bar and restaurant, located on the ground level, has a warm ambience that is hard to find in other spaces. It has a strong European feel, with French, English and American influences and a menu to suit. Unlike many similar restaurants the menu is seldom changed, unless necessary.

The basement level, renovated in 2017, houses a cosy and chic cocktail bar / dining overflow, which could easily be converted into an impressive wine cellar if desired.

With a recent footpath redevelopment, the venue has been provided with more outdoor dining space, a more modern look, and new furniture has been obtained to make the best use of this space.

It also has a strong coffee trade, averaging 10-15kgs a week over the past few years and with more people returning to their offices, after the pandemic, this is expected to largely increase.

They have a strong repeat customer base with excellent reviews across numerous websites, and a very good following on social media with 2,600 followers on facebook and 1,300 followers on Instagram.

The business is highly profitable, easily run and an overall fun place to operate for a motivated new owner, partners, or a group wishing to boost their hospitality portfolio.

At a Glance

  • European influenced Bar & Restaurant
  • In operation since 2014
  • Strong repeat customer base
  • Located in the heart of the Adelaide CBD
  • 3 Licensed spaces

Tony Iasiello 0412 217 608


Extended Price Information

Goodwill including Plant & Equipment $245,000
Stock at valuation (approx) $20,000
$265,000

Financial Summary

Year Sales Return to Owner Return on Owner's Investment
2018/2019 $883,536 $206,526 77.93
2019/2020 $718,053 $115,542 43.57
2020/2021 $953,079 $178,819 67.48

Staff Summary

7 staff are employed by the business

Lease Summary

Current Rent $7,615 per month
Lease Term 5 years
Outgoings Paid by tenant
Adjustments CPI annually
Right of Renewal 1 (one) by 5 years

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