Established Korean Supermarket in Adelaide CBD 20 Years of Community Trust

The Phone Code for this property is: 65456. Please quote this number when phoning or texting.

Located at 61-63 Grote Street, Adelaide 5000, within the bustling Chinatown Market Plaza, this Korean supermarket has been a cornerstone of the local community for two decades. Offering a wide range of Korean groceries, cosmetics, household items, and imported goods, it stands as the sole Korean specialty store in Adelaide's CBD.

Key Features:

Proven Track Record: With an annual gross revenue of $550,000 and net profits of approximately $50,000, the business demonstrates consistent financial performance.

* Owner-Operated Currently managed by the owner with occasional casual staff, ensuring personalized service and operational flexibility.

* Prime Location Situated between the iconic Adelaide Central Market and Chinatown, the store benefits from high foot traffic and visibility.

* Long-Term Lease The premises are secured under a 5+5+5 lease agreement, with two renewal options remaining, providing stability for future operations.

* Community Recognition Renowned for its quality products and service, the supermarket boasts a loyal customer base built over 20 years.

The ongoing $400 million redevelopment of the Central Market Arcade, known as Market Square, is set to transform the area into a vibrant cultural and commercial hub. This includes the addition of luxury residences, a new Coles supermarket, office spaces, and elevated green spaces . The completion of this project in early 2026 is expected to significantly increase foot traffic, presenting an excellent opportunity for business growth.

Reason for Sale:
The current owner is seeking retirement and relocation outside Adelaide, offering a genuine opportunity for new ownership.

Ideal Buyer:
This business is well-suited for individuals familiar with Korean culture and products, particularly those from Korea, due to the established customer base and product knowledge. However, it remains an attractive turnkey investment for anyone seeking to enter the retail food sector in a prime CBD location.

Contact Information:
For more details or to arrange a viewing, please contact Ronald at 0413003029

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Disclaimer:

Whilst every care has been taken to verify the accuracy of the details in this advertisement, For Sale By Owner (forsalebyowner.com.au Pty Ltd) cannot guarantee its correctness. Prospective buyers or tenants need to take such action as is necessary, to satisfy themselves of any pertinent matters.