Prime location in the heart of Sydney Olympic Park (Homebush) and aggressively priced. Take advantageof a big upcoming concert season.
An opportunity to purchase a fully licenced small bar in the heart of Sydney's premier event district - Olympic Park. This is a tightly held area and premises rarely become available. Busy location in the Commonwealth Bank building only 50 meters away from the train station, 200 meters to Quudos Bank Arena, Sydney Showgrounds and ANZ Stadium.
The business currently operates as a Cocktail Bar trading under a small bar licence with capacity for 84 people. This is one of around 50 small bar licences in NSW.
Currently open for dinner only. Opportunity to expand into lunch, weekends, increase the food offering and/or coffee and desserts. Uber Eats and other delivery services for the thousands of nearby apartments. Further opportunity to expand from an event based business to regular trade from growing surrounding suburbs.
Located in the heart of Olympic Park, be quick to take advantage of the upcoming concert season, with over 25 major concerts and events scheduled for the 2nd half of the year including Kiss, Metallica, Fleetwood Mac, Royal Edinburgh Military Tattoo, Tim McGraw, Hugh Jackman, Gambino, Hilltop Hoods, WWE, Queen and more. A unique opportunity to recoup a big chunk of your investment in the first 6 months - concert night revenue ranges from $4,000 to $12,000 per night
Other highlights include:
- Prime location in the heart of Olympic Park
- Good hours and fully flexible at your discretion
- High quality fit out
- Fourth year of operation
- 105sqm indoor with approved outdoor seating area
- Large bar area and preparation kitchen (does not require a chef)
- Lease to June 2024
- Currently operating Wednesday-Saturday from 4pm
- Licenced to trade until 1 am
- Competitive rent which includes maintenance of bathroom facilities and garbage disposal
- Staff: 1 owner/operator, 2 permanent casuals and event casuals. Most nights can be run with 2 capable people, with casuals on call for event nights
Priced at a modest 1.2 times FY18 profit, this business would suit an experienced operator looking to capitalise on huge potential upside in a rapidly growing area.