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Gold Coast QLD

NEW LISTING URGENT SALE Much Loved Neighbourhood Modern Asian Restaurant

$130,000 WIWO

Description

This architecturally designed dining destination opened in 2016. A busy location in Mermaid Waters (a highly affluent coastal suburb) with plenty of walk by trade.

Weekly sales averaging $16,000 gross over the past two years only cements this premium location.

A perfect footprint offering 20 seats inside, and up to 80 seats outside (ability to reduce to 40 seats mid-week to mitigate labour).

The owners have recently opened a new venue elsewhere and are no longer able to split their time.

This is a WIWO sale, in a busy location, with a fully set up restaurant. No expense has been spared with all high end equipment.

Top line sales, BAS to verify sales, and lease will be made available.

Setting this restaurant up from scratch would cost at minimum $500,000 with todays rising costs. This is a steal!

Staff No

1 Full time Chef 2 casual cooks 1 x FT Front of house 3 Casual Front of house

Lease Info

Expires 13/12/2025 Options 2 x 3 years 3% Increases

Trading Times

Monday Closed Tuesday Closed Wednesday 11:30 am–3 pm, 5:30–8:30 pm Thursday 11:30 am–3 pm, 5:30–8:30 pm Friday 11:30 am–3 pm, 5:30–9 pm Saturday 11:30 am–3 pm, 5:30–9 pm Sunday 11:30 am–3 pm, 5:30–8:30 pm

Size of Premises

Rent and outgoings – approximately $72,120 per annum gross. Floor area – internal – approximately 60 sq metres – seats up to 20. External area – seats approximately 40 with an additional deck area for busier nights – another approximate 40 seats. Total seats – up to 90 - 100 for busier nights. Abundant parking directly out front. Bar with keg system, Hoshizaki ice machine, La Marzocco 1 group all owned outright Fully kitted out kitchen with walk in cool room, with top of line equipment, including, multiple fryers, six burner with oven and plenty of underbench rerigferation and freezer space.

Opportunity

This business has received exceptional media coverage, has 8315 Instagram followers, and is well known as a premium offer of Modern Asian. 4.5 Google rating with over 300 reviews Increase service hours Open 7 days and nights. Open earlier for the breakfast crowd, we need more Asian style breakfasts! Often requested for full service catering but owners are time poor. A huge market on the GC in a highly affluent suburb.

Weekly Sales & Turnover

Turnover (inc GST)

$16,000

Rent

$1,386

Reference No: MLLB0418

Business Listed by

Julian Mero

Managing Partner of GSE QLD | Senior Hospitality Consultant |Licensed Real Estate Agent & Hospitality Business Broker @ GSE Hospitality Brokers

Growing up in the hospitality industry with my dad owning an Italian restaurant, and my mum owning a ski lodge with a fine dining restaurant, it’s safe to say hospitality is in my DNA!

After I left school I wanted to try something different, so I entered the sporting industry, working at world class companies such as Nike Australia, FILA International and Pacific Dunlop, where I enjoyed and excelled in sales and marketing roles.

I loved my time in the sporting industry, but the itch to be part of the hospitality industry never left me, so when an opportunity came up to invest in and operate a restaurant in Brisbane, I jumped at the chance.

Over almost a decade, I invested in and operated multiple restaurants and a coffee specialty café, I became the National Operations Manager of the group – which eventually established 25 restaurants and 6 coffee specialty cafes trading under The Groove Train and Coffee Hit brands.

In 2015 we sold the business to Minor DKL – the parent company of The Coffee Club. Knowing that the sale was imminent I decided to further educate myself and completed my Masters in Business Administration at The University of Queensland.

In my role at large institutional landlord looking after food and beverage leasing, I have gained extensive knowledge and experience about the site selection process, lease negotiation structures and the details of how the industries best businesses achieve favorable leases.

Having owned, operated, and sold hospitality businesses, together with working for one of the countries premium institutional landlords. my experience is very well rounded. If you need help with the day to day running of your business, growth strategies or with any lease/landlord requirements please do not hesitate to reach out.

Request more Information about this business

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The Prospective Buyer of the Business agrees to be bound by this deed as follows: All information of a confidential nature disclosed to the Prospective Buyer (including to Agents, legal & other advisors) may not be disclosed to any other party prior to, during a subsequent to the entering into by the Prospective Buyer of a contract.

All records of the Business, financial, intellectual or otherwise are confidential and must remain so. This deed does not prevent any party from making a disclosure required by the law and does not include information normally in the public domain.

The Prospective Buyer acknowledges information supplied by GSE Business Consultants: Is provided by and on behalf of the Business Owner. Is not guaranteed by GSE Business Consultants and it shall be the responsibility of the Prospective Buyer to do whatever is reasonably necessary at its own expense to verify such information GSE Business Consultants are not acting as an investment or financial advisor.

The Prospective Buyer confirms GSE Business Consultants, having supplied the material requested by the Prospective Buyer does so as agent only and as such bears no responsibility for the accuracy thereof or any errors contained therein and the Prospective Buyer will not hold GSE Business Consultants liable for any loss or damage sustained with respect to reliance on such information.

The prospective buyer hereby agrees not to approach the landlord, property managing agent, any staff member or the business owner either directly or indirectly. When visiting the venue as a customer this must be done with absolute discretion.. Furthermore, the prospective buyer agrees not to discuss the sale of the business with anyone without first disclosing that person’s contact information to GSE.

All information and material provided under this deed will be returned, destroyed or otherwise dealt with in accordance with the Business Owner’s instructions if no contract is entered into. All contact with the business owner must be organised through GSE unless the business owner is advertising through The Six Steps to Sale Program offered by GSE.

The prospective buyer hereby accepts that their contact information may be shared with the seller of any business on which an inquiry has been made. GSE will not share the contact information of the prospective buyer with anyone outside of GSE with the exception of the business owner as referred to above.
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