Ground floor entry into popular dining district.
Sydney Restaurant Property Buy
The subject restaurant is located in a high foot traffic corner position on Bayswater Rd. Less than 2 km from Sydney CBD. This restaurant property is in a prime location, with excellent front street frontage plus a private outdoor dining area.
The current business lease is 15 years. The current leases commenced in August 2017, and the initial commercial lease period is five years with two further five year options. Annual increases are 4 %.
Food Beverage Business Opportunity
Despite the long lease, there is a demolition clause in place. This provides an excellent opportunity for a new owner-operator to purchase a fully licensed, fully equipped cafe restaurant and bar with a full kitchen, storage and cool room etc in a highly sought Sydney Dining, Entertainment and Tourist location.
There is also a very attractive “on-premises” liquor licence currently attached to the property’s current restaurant and bar business.
Great Opportunity To Purchase Hospitality Investment
Alternately, the new owner can keep the current long-established operator as an existing tenant for commercial retail investment in an attractive location. The current net income from the 15 year lease is $211,733 pa (approximately).
The Potts Point Kings Cross area has undergone a business transformation since recently eased lockdown laws. Several new proposed and recently completed developments have shown a lot of business confidence in the Kings Cross/Potts Point district (STCA).
As a result, many new high-quality dining & entertainment operators are moving into the area renewing the area appeal as a quality dining & entertainment destination.
Restaurant For Sale Location details
The subject property is in a great central location situated on the ground floor at Shop 7, 33 Bayswater Rd Potts Point.
You can feel a strong sense of optimism. There are many commentators saying that Kings Cross is coming back as a more family-friendly, quality dining, entertainment & international tourist destination.
The Potts Point/Kings Cross renaissance has begun. Do you want to be part of it? If you would like further details of being part of this exciting period, contact Con Tastzidis at CST Properties (exclusive agents) on (02) 9882 2221.