Restaurant-Chinese / Asian Cuisine

For Sale

·
Northern Beaches

Business Code: M2143

$120,000
+ Estimated Stock (SAV) $8000
Key Features: Good location. - Long established for 42 years. - Well known to locals. - Loyal local customers. - Stable income. - Short trading hours, 6 dinners only. - Long lease available. - Great potential.
State: NSW
Suburb: Newport
Location: Prime street front location in affluent area of Northern Beaches.
Premises: Well presented Chinese style fittings restaurant with an area of approx. 200 m2 plus one large store room in car parking area.

Retiring after 38 years.

Sale Reason

1984

Established

Street parking

Parking

2 owners + 1 chef + 4 kitchen hands + 5-6 casuals including home delivery drivers.

Employees

6 nights, Tuesday to Sunday: 5 p.m to 10 p.m. Friday & Saturday till 11 p.m. Mondays closed.

Trading Hours

The vendor is landlord. New 3 + 3 or 5 + 5 years lease available with 3.5% annual increases and 3 months bond.

Lease

Restaurant serving authentic Asian & Chinese cuisine, specialising in Hong Kong style food. Fully licensed. – Open 6 dinners. – Fully equipped kitchen with large cool room. Licensed. – 100 seats.

Features

Good location. - Long established for 42 years. - Well known to locals. - Loyal local customers. - Stable income. - Short trading hours, 6 dinners only. - Long lease available. - Great potential.

Potential

Could open 7 days. Could trade lunch. Expand home delivery through internet order system. Could convert to different cuisine.

Comments

Total rent is plus GST and plus Outgoings. Strata levies $1,600 p/a, council rates $1,600 p/a & water rates $3,600 p/a; average $408 per week.. Misc. 1-refers to water usage, rubbish bill, bank fee etc. First time on market in 42 years. For more details please discuss with your broker. Keen vendor needs to retire. Freehold property for sale if desired. Inspections through SBX business brokers.

Weekly Summary

Figures include GST unless stated otherwise

Weekly Takings
$20000
Cost of Goods
$5500
Gross Profit
$14500
Rent
$2300
Wages
$6000
Telephone
$20
Insurance
$192
Electricity
$460
Misc 1
$600
Total Expenses
$10290
Estimated Stock
(Additional)
$8000
Net Profit
$4210
Price
$120,000
+ Estimated Stock (SAV) $8000
Price
$120,000
+ Estimated Stock (SAV) $8000
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