OFF MARKET-Iconic Italian Restaurant and Wine Bar – North Sydney, NSW , , ,

Category: , , ,
$ 99,000
$99,000 + SAV 

Description

Pre-COVID Turnover $1.2m –  Currently over $670K annually

Showing Consistently Strong Trading Figures 12 months of the year, this iconic Italian Restaurant has been trading non-stop in Sydney’s North Shore for 47 years. In all that time, it has only had 2 owners, attracting 75% repeat customers in this up-market suburb.

Currently showing a 31% profit margin, the venue is now returning to its pre-COVID trading, when turnover was $1.2 million a year. Offering a trail to verify these numbers. This Fully Licensed business would suit someone with a competing business looking at expansion, or an investor wanting a business that can be run under management.

Business Highlights:

  • High foot traffic location and only metres from a major train station
  • Seats 70 in a modern, friendly fitout with a relaxed dining atmosphere
  • Offering both Dine In, Take Away Services and delivery.
  • Highly loyal repeat customers with excellent online reviews
  • Located near 4 major hotels – Preferred Italian restaurant by all North Sydney hotels
  • Benefits from commercial businesses during the day,  residents living around the harbour at night and tourists staying in nearby hotels.
  • Currently closed Sundays, Mondays, Public Holidays & an additional 2 weeks in January
  • Premises 113 sqm – Very affordable rent @ $1600/week – Outgoings $35/week
  • The business website currently rank on the first pages of Google
  • Listed in the top 1% restaurants worldwide by Trip advisor in 2019, 2020
  • Accredited by Italian Chamber of Commerce as an authentic Italian restaurant
  • Great online presence – Growing database of 3500 people
  • Sale due to owners urgently needing to relocate overseas

North Sydney is growing with several new major companies such as Channel 9, Vodafone, SAP, Microsoft and more. There is potential to open earlier and gain from the morning foot traffic to work with coffee and takeaway food.

Also, with new apartments being built, opening at the weekend or opening Monday would dramatically boost revenue.

A new owner might also consider opening earlier to catch the morning trade with coffee, corporate catering deals with surrounding offices, and offering aperitivo between lunch and dinner to capitalise on the trend for afternoon drinks.

Price: $99,000 + SAV

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State

  • State: New South Wales