SOLD – Movie Theatre and Sports Facility Plus Residence– Lakes Entrance, VIC

Description

Turnover: $300,000 to $350,000

Established by the current owners in 1999, Lakes Squash & Movie Theatre is an iconic business in a fantastic location. This one-of-a-kind freehold opportunity comes with a steady income, as well as the potential to further develop and reap the rewards.

It currently comprises a sporting/recreational facility with an entertainment centre, with a licensed bar, toilets/change rooms and carparking.

Business highlights

–Freehold Lakes Entrance property with a 3-bedroom home plus the Mallacoota Cinema, which is leased seasonally each year
-Mallacoota Cinema is the town recreational hall (basketball etc.) and used for a month for the cinema. Camping is allowed onsite.
-Varied mix of clients, including (sport) existing players, juniors and school groups and (cinema) local movie-goers and holidaymakers
-Popular venue for fundraisers, local clubs, schools, events
-Trading hours vary
-Nearest cinema is 45 minutes away in Bairnsdale
-3 months’ training provided
-Staffing requirements: At Lakes Entrance – owner plus one permanent part-time employee who would stay on; at Mallacoota, 5 casuals to pick from to staff 3 positions

Recent improvements include a complete repaint of all the upstairs mezzanine floor and downstairs foyer, new front welcoming entry, more airconditioning, carpark improvements and more

Lakes Entrance is a key holiday destination on the Gippsland Lakes, attracting tourists from all over the world. The pristine Lakes system is walking distance from this business, along with famous 90 Mile Beach.

This is the ideal location for a business that benefits from the tourist trade, as Lakes Entrance is a central location for those visiting the lakes, alpine snowfields, Buchan Caves or bushland walks.

The current owners built and established a single screen year-round cinema in 1999, adding the Mallacoota screen in 2003. The Lakes Entrance screen was digitized in 2010, followed by the Mallacoota screen in 2013.

To the right owner it’s ready for instant business and a great lifestyle

Price: $890,000 WIWO