Bar - Restaurant - Buzzy Wine Bar & Restaurant - Prime Redfern Location - G1788
Bar - Restaurant - Buzzy Wine Bar & Restaurant - Prime Redfern Location - G1788
Industry :
Leisure/EntertainmentSub Industry :
Bars/NightclubsBar - Restaurant - City Fringe - Agent SBX Code Number: G1788
Small bar & restaurant in sought after City Fringe corner location. Great supplier contacts for Australian focussed wine list and seasonal menu. A well established kitchen & bar team offering simple but delicious bar food but not as you know it. Using seasonal produce from local suppliers, the food menu is designed to be shared and changes regularly. The wine menu, favours Aussie producers with natural and biodynamic wines on offer and a rotating beer selection features some favourite local craft brewerys both on tap and in the fridge as well as a selection of carefully designed cocktails.
Potential
Currently trading 5 nights and 2 lunches. - Plenty of scope to increase weekly turnover via events or to increase trading days. -Could promote functions and/or special occasions.
Features
Well established customer base with excellent google reviews. Winner of the 2018 Sydney TimeOut Bar Awards Category Best Bar Food. Responsive Instagram/Social Media presence with over 10k followers.
Premises
Approx. 80 sq.mts. internal space and council approved outdoor seating along two street frontages. Beautiful ambiance and fit-out.
Location
Unbeatable corner location in the heart of Redfern - hot dining precinct on the CBD FringeCouncil approved seating along two street frontsRedfern station 2min walk, new Waterloo Metro Station 5 min walk.Close to corporate head offices in Eveleigh and event space Carriageworks
Trading Hours
5 days, Tues to Sat (dinner 5 nights, lunch Fri & Sat)Plenty of scope to increase turnover with hours and/or functions
Lease
Current 6 year lease expires in 2028 with a further 5 year option, $14,045 security deposit and 3.5% annual increases. Annual rent of $158K (9% of total turnover)
Employees
1 owner + 2 full timers + 1 part timer & casuals
Comments
Very rare opportunity to acquire a much loved, well located and very busy small bar in one of Sydneys best destination wine & food suburbs. Excellent lifestyle business, currently trading 5 days and returning an excellent owners wage + profit. Fully fitted out kitchen with exhaust, plenty of storage, well set up and easy to run bar. Well established kitchen & bar team with a focus on Australian Wine and produce. Excellent supplier contacts. Responsive Instagram/social media presence of over 10K followers, excellent Google reviews. Winner of Time Out Bar Award on opening.
Figures
Weekly Sales $0
Rent (ex GST) $0
Wages $0
Profit $0
Agent SBX Code Number: G1788 - SBX Business Brokers
SBX Business Brokers is one of the largest business brokers in Australia servicing Sydney, Melbourne, Brisbane and the Gold Coast. With over 30 years of experience, you can be assured that SBX will provide you with a premium service.
Headed by Colin Bennie and an extensive team of multi-lingual brokers, SBX will match the right business with the right buyer. Our team will personally take on each business and market it individually, as well as handle all of the details of meetings and inspections. SBX will assist you in understanding all of the legal requirements, rental bonds, insurance and other requirements that may relate to selling or purchasing a business in Australia.
SBX sells all manner of businesses from small owner-operator businesses to franchises and multi-million dollar businesses.
To find out more about how SBX Business Brokers can assist you, simply register online or contact the office.
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$549,000 + SAV
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Buying a business is a big deal! It can open up a new chapter in your life, expand your growing business base or fulfill that dream you’ve always had. Before you make that offer, there are a few things you should consider to determine whether this business is right for you or not.
These include:
Ensure the seller is 100% verified by us!
Can you afford the business? Do you need financing to assist with the purchase?
Have you done enough research? Complete some industry analysis, research competitors, verify revenue figures and so on!
Ask the seller some questions - why are they selling, will they be providing customer/supplier databases, what assets other than the physical business will be including (marketing materials etc), are their tax records and financial statements up to date and verified - this is your chance to pick the seller’s brain!
Make sure it’s the right business for you!
From there, you can make an informed choice - and if you do need some assistance, the Eden Ecosystem is here to help.
The Eden Ecosystem has been cultivated by us using our expertise as digital deal makers, and is designed to help buyers and sellers successfully complete business transactions. The ecosystem features franchising and private sale experts, lawyers, mergers & acquisitions experts, accountants, dedicated account managers, brokers, and network managers, who are all available to help you successfully buy your dream business. Looking for some extra assistance? Get in touch and we can help connect you with the right people!
Once you have submitted an enquiry to the seller, the seller can invite you to view confidential information about the listing after signing an NDA in order to conduct your due diligence. A business owner will ask you to sign an NDA before a deal can commence. This allows the business owner to keep certain information confidential, including client lists, employee information, intellectual property, trade secrets, pricing structures and so on, in case a deal cannot be met.
Typically, NDAs are often mutual - meaning, just as you're agreeing to keeping the seller's business information confidential, the seller must also offer that same level of confidentiality to keep your information private. Another thing to look out for is non-solicit provisions. If a seller has this clause in their NDA, you are prohibited from soliciting any of their clients or employees for yourself or your company for around 1-2 years.
Once you’ve done your due diligence and you’re satisfied, you can make an offer directly to the seller in the Deal Room where a transaction can be done. From start to finish, the entire business transaction can be done through the Eden Exchange platform.
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