Listing #:1510286633

Dunedin City Restaurant – Energetic, Innovative Owner/Operator Wanted

LOOK...Over 24%* Return!
Location: Dunedin, Otago
Impressive Dunedin Restaurant – Big Improver with Further Potential

If you are seeking a proven ‘Turnkey’ business with great systems, strong cash-flow & further potential then this could be for you. *Latest figures to 31 March 2018 show a return (EBITDA) of over 24% on asking price! The current owners are from a corporate background and have set this up to run with minimal ‘hands-on’ involvement. They are selling because they live out of town and are over-committed. This is a wonderful ‘Turnkey’ operation with great loyal chefs who are keen to remain.

Featuring quality plant & fit-out in a central-city location this space can comfortably seat over 150 guests. It is popular with large groups including graduations, business events, family celebrations, birthday parties etc. And being in George Street in the centre of town as well as the brand new managed office complex upstairs with spaces for up to 180 people provides a substantial captive market/s.

The business is currently part of the La Porchetta Italian franchise but the new owner can change this to make it their own. Everything is in place – including the customer base who consistently rate the restaurant very highly.

The recommendation is to retain the pizza/pasta theme but to rebrand with your own vision as this will enable a hands-on owner to significantly grow the business and profit.

The lease includes a number of carparks and provides long-term security with a supportive landlord. The fully equipped open-format kitchen features quality plant and equipment.

This business is “ready to rock” for the right new owner who is motivated and able to take it to the next level. With the original fit-out having cost over $850,000 just over 4 years ago the (original) asking price of $399,000 plus SAV (approx. $20,000) reflects only the value of the plant & fitout & represents an outstanding opportunity.

However, the owners have now given instructions that they want to sell quickly so they can do other things. All reasonable offers considered!

Agency reference #: 58704
Asking price: $399,000 Or Near Offer
Listed: Thu 4 Jan, 4:17 pm
Peter Gale
TourismProperties.com
  • Contact details
  •  (021) 608107
  •  (021) 608107

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Agent's details

Peter Gale
  •  (021) 608107
  •  (021) 608107
TourismProperties.com

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