Glebe Café – high foot traffic, new lease, full kitchen, staff in place
$99,000 plus stock
Description
MUST BE SOLD – MAKE AN OFFER
This very well known and centrally located café in the popular Inner West suburb of Glebe is offered for sale, boasting a prominent position with enormous street appeal, high foot traffic and a name synonymous with Glebe.
The Vendor, due to personal circumstances, has reluctantly decided to pass on this fantastic opportunity to someone new. Some renovations have recently been completed, staff are in place and the sales are increasing! All the hard work has been done to resurrect this iconic café to its rightful place in the Glebe café scene.
With the return of students to nearby universities and the resurgence of the Glebe Point Road precinct, the time is right for an experienced and astute operator to take the business back to its high sales levels. Average weekly turnover in FY21 was $24.6k/week, despite capacity and other Covid restrictions. Prior to Covid, sales were around $35k/week.
There is footpath seating for around 16 patrons plus around 51 indoor seats. On the lease are also 5 separate apartments which currently bring in a rental of $1,120 per week.
The opportunity is to hit the ground running, capitalise on the good name of the business and catapult this iconic café above and beyond its past glory. Recently updated and with a strong team of staff. The good rent and long lease tick all the remaining boxes for a great business acquisition! Extend the operating hours to previous levels, including nights, to increase the sales. Liquor license possible (STCA). Ramp up the delivery/take-away business.
**Please note that for confidentiality the image in this advert is generic and is not of the actual business**
Members only
Staff No
The business is currently run by the following staff: 1 x Chef (day) Full Time 1 x Barista (day) Full Time 1 x Floor/Kitchen Hand (day) Casual 1 x Floor/Kitchen Hand (day) Casual 1 x Floor/Kitchen Hand (day) Casual 1 x Owner Full Time A total of 56 operational hours per week.
Lease Info
A new lease will be provided (3x3x3 or 5x5) A three month rental bond is required.
Trading Times
7 days Sun-Wed 8:00am – 4:00pm A total of 56 operational hours
Size of Premises
The business is in good condition with seating for 34 indoor, 17 in the courtyard and with a footpath license for 16 outdoor seats. Plenty of storage with a full kitchen, coolroom and an office. The premises include a 1-bedroom apartment, 1 self-contained studio apartment and 3 separate rooms (sharing a bathroom and kitchen) (@$1,120 per week). This very well known and located café in the popular Inner West suburb of Glebe boasts a prominent position with enormous street appeal. Situated on the main high street of Glebe, close to transport, Universities, Broadway Shopping Centre and local attractions. On street parking and nearby free parking available. Buses at the doorstep. High foot traffic. Café has been in operation for over 40 years – well known dining/café institution.
Opportunity
The opportunity is to hit the ground running, capitalise on the good name of the business and catapult this iconic café above and beyond its past glory. Recently updated and with a strong team of staff. The good rent and long lease tick all the remaining boxes for a great business acquisition! Extend the operating hours to previous levels, including nights, to increase the sales. Liquor license possible (STCA). Ramp up the delivery/take-away business.