101 Glebe Point Road Glebe NSW 2037

DESCRIPTION

Phone enquiries - please quote property ID 34110.

A fantastic venue offers a wonderful opportunity. Step back in time at Local Lounge, Glebe's global fusion Restaurant & Bar. Channeling a speakeasy vibe. Exposed brick walls & plush banquette seating create an intimate , retro atmosphere
Recently rebranded, Local Lounge offers a welcoming, rustic atmosphere

Location:
Situated on a main road shopping strip, amidst other eateries and close to the vibrant Glebe Markets, Local Lounge is ideally positioned to attract a steady stream of customers.

Features:

* Established Reputation: Over 12 years in operation - current owner managing it for the past two years.
* Asset Sale; includes all fixtures, fittings, equipment.

Key items:
* Full commercial kitchen with char grill, stainless steel benches, multiple under-bench fridges, freezers.
* Licensed Venue: Fully licensed with a PSA, offering the new owner the opportunity to develop it into a beautiful bar / licensed Cafe
* Seating Capacity: Approximately 50 internal seats, plus additional licensed seating on the footpath, roadside dining and in the rear courtyard.
* 3 + 5 Years remaining on the Lease. Good Landlord.
* Rear laneway Car-space
* Alarm & Cameras
* Staff bathroom, office and bedroom upstairs
* IMPOS POS
* Ice Machine
* Rent is $1404 / wk excl. of GST

!!* The Landlords managing agent is Richardson & Wrench. They will vett the incoming Lease applicant. To be successful in transferring onto the Lease they quote this: "Regarding prospective tenant requirements; they need to own real estate OR they can have a co guarantor with real estate assets / or equivalent"

Further Potential:
The business is currently only trading 5 nights & one lunch service. The current owner is selling due to other business commitments, there is significant potential for the right owner to expand the business.
Opportunity:
Whether you are already in the hospitality industry or aspiring to be your own boss, Local Lounge is an excellent opportunity. It’s priced modestly, less than it would cost to set up a similar business from scratch.

Turnkey Sale:
This is a turnkey Asset sale – walk in, and start trading immediately, with no additional investment required.

DISCLAIMER No Agent Business (www.noagentbusiness.com.au) is an Australian For Sale By Owner website operating since 1999. We proudly assist business owners who are looking to sell their own business without paying any broker commission. While every care has been taken to verify the accuracy of the details in this advertisement, the correctness cannot be guaranteed.