Iconic Leasehold Eatery with estimated MAT of $1 million
Conveniently located in the CBD, the Wineglass Bar and Grill Restaurant has been keeping customers happy for over 20 years and is known for its outstanding quality. Mudgee’s only full service restaurant, it opens for breakfast, lunch and dinner.
• Established for over 20 years and available in the form of a sublease
• Located with the Cobb and Co Court Boutique Hotel
• Prime position close to shops, Post Office, Big W and Woolworths
• Seats 94 guests: 36 inside, 20 in the upstairs loft and 38 in the hotel courtyard
• No real competition – just local cafes and pubs
• Includes a Special Liquor Licence – one of only 3 still operating in NSW - which permits alcohol to be sold without purchasing food
• Excellent customer base of discerning local residents, travellers and in-house hotel guests
• All equipment owned by the lessor and leased back to the sub lessee (under conditions) for the term of the lease
• Trading hours are 6.30am to 2pm, 6pm to closing, Monday to Friday; 8am to closing on Saturday, and 8am to 2pm on Sunday
• Superb Head Chef in place plus full kitchen staff, Restaurant Manager and FOH team
This restaurant is part of a head lease which includes the hotel and expires on 31 August 2019, with a further 5-year term starting on 1 September 2019 and a further 5-year Option to Lease after that.
The restaurant base rental for the new sub lease beginning 1 September 2019 is $48,000 pa plus outgoings. A monthly rent free term concluding on 31 August 2019 is available for the successful sub lessee.
The main lessees are very experienced in the restaurant/food industry but fully occupied in managing the hotel. They would like to ‘share the load’ to ensure the success of all parts of the business.
Based on 15 weeks’ trading in the restaurant, they are estimating a MAT of $1 million. Earlier figures (2015) showed a turnover of $1.5 million.
Asking Price: $40,000