South Melbourne VIC 3205

$250,000.00

FUNCTION & EVENTS VENUE 3am Licence - MELBOURNE CITY FRINGE

Phone enquiries - please quote property ID 23341.

Well-established Lounge Bar / Functions business, strategically located in a highly sought-after city fringe area. With little local competition, the business plays host to a variety of corporate and private functions and events, successfully operating on only 1-2 nights per week for over 11 years. Owner now seeking a change.

The business has an excellent setup with a capacity of 200 patrons and purposely kept as a simple operation, easily run by a single owner / operator and 2 casual staff. The business has an exceptional reputation and a sought-after functions venue, however there is still plenty of room for further growth benefiting any new owner to either simply take over and run the ‘status quo’ or ramp up with database marketing, brochure drop, Social Networking, price increases and extended trading.
NOTE: The business has a healthy 4-6 month pipeline of advanced function bookings throughout the year

KEY POINTS
• Only 1 - 2 Nights per week
• On-Premise licence till 3 am – 7 days per week
• Off Premise license till 11 pm – 7 days per week
• 300m2 fully renovated and equipped premises
• Large fully equipped kitchen nothing leased
• Licensed 200 patrons
• 6-month pipeline of advanced bookings
• Consistent Year on Year Cashflow

PREMISES – LEASE AND LOCATION
The premises are exquisite and are well set up for all types of functions including engagements, weddings, birthday celebrations, corporate events and more with accommodating decor. The premises are leased - Lease Terms: 2026 with a view to extend to the right candidate and discounts will be offered due to COVID.

The location is well-serviced by a variety of public transport and surrounded by luxury high-density residential apartments, large businesses and corporates.

There are some existing employees including some casuals x 2 and one contractor.

Skills Advantages, but not necessary would be:
- Beverage knowledge in Liquor
- Food and kitchen dynamics
- Business management
- RSA and Licenses First Step certificate required

This business is ideal for either the entrepreneur or an existing Events business wishing to expand.

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Property Details

• Building Area: 366 m² (approx)