George’s Restaurant

George’s Restaurant

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Location Details :

Country

Australia

State

Victoria

City

--


Industry :
Food/Hospitality - Restaurant ; Leisure/Entertainment - Bars/Nightclubs ;

Financial Details :

Revenue

--

EBITDA

--

EBITDA multiplier

-x

About the business

"For sale by E.O.I., closing 24 March 2023" is George’s Restaurant and Freehold, established in 1984 and located on the main street of Apollo Bay; George’s produces strong upper mid-six-figure returns and is the largest of its kind on the Great Ocean Road.

Ideally positioned as one of the most successful businesses of its kind, the sale comes with approved plans for commercial development of the first-floor level, offering a food and drink service in an environment that offers extensive views of the Bass Strait, Apollo Bay Harbour, and surrounding hills. Additionally, the existing building (restaurant) has two three-bedroom units at the rear with considerable vacant land for storage and parking.

George’s Restaurant’s central location in the town and its position overlooking the foreshore and beach has made the restaurant a local favourite for the community year-round. Due to the venue’s substantial size and dining capacity, George’s Restaurant has become a specialist in handling the large and ever-present bus and tourist groups that make their way through as they drive towards the Twelve Apostles.

The business is owner operated with the vendor acting as the general manager. Several staff are employed to round out the team. During peak periods, George’s Restaurant hires additional workers to meet customer demand. The business is open throughout the year from Monday to Sunday, 11:00 am to 9:00 pm.

The key features of the business are:

• Great location in the heart of Apollo Bay.

• The largest restaurant in the region with a great capacity to serve many customers.

• Excellent reputation and well-known Restaurant from Apollo Bay residents, holidaymakers, international tourists, and tour companies.

• Provides fast and quality service with value-for-money meals and snacks.

• Wide variety of meal options to cater to different tastes and dietary requirements.

• Comes with approved plans for commercial development of the first-floor level, offering a food and drink service.

• The existing building has two three-bedroom units at the rear with considerable vacant land for storage and parking.

• Turnover and profits have remained strong during covid with positive signs of recovery and returning international tourism.

What makes this business successful?

George’s Restaurant serves local favourites, from hot coffees to milkshakes, a variety of hot food, burgers, fish and chips, pizzas, and rotisserie-cooked chicken, catering to large groups and those looking for a quick bite. The restaurant and staff pride themselves on providing customers with quality, quick and value-for-money food and service.

There are opportunities to expand the business with planned developments, which could be utilised for increasing capacity and functions. Creating social media and a website for customers and tour providers to follow could also benefit the popular restaurant and showcase its updated modern look.

The freehold sale has a Council Approved Building Permit with comprehensive Architectural Plans for future development. This will allow additional bar and reception facilities to be configured into several different configurations.

If you want to expand your hospitality portfolio by purchasing a business or business and freehold in a prime location, turn-key and primed for growth, please enquire now.

Complete your online enquiry for a confidential discussion with the lead broker and receive a comprehensive Business Profile and Market Review.

*For Sale by Expressions of Interest closing 24 March 2023*

Finn Business Sales
Geelong and Southwest Victoria
(03) 5259 9970

Broker: Mark Hall
0403 303 013
mark.hall@finnbusinesssales.com.au

*Watch the George’s Restaurant Video Playlist by copying and pasting this link: shorturl.at/fkmo7

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