Sensational Waterfront Restaurant & Bar
Patterson Lakes, VictoriaAbout the property
INCREDIBLE WATERFRONT LOCATION
Approximately 50-seat capacity
$150,000 FIT-OUT
An outstanding opportunity to secure a beautifully presented, near-new restaurant and bar in an amazing waterfront position in Patterson Lakes. Only approximately two years old, this venue was established with an estimated $200,000 invested into the fit-out and equipment and presents exceptionally well throughout. Due to a genuine change in family circumstances, the owner has made the difficult decision to sell — creating an opportunity for the next operator to acquire the entire set-up for just $79,000. His loss could very much be your gain. This is a genuine walk-in opportunity with the hard work, major capital expenditure and establishment costs already taken care of.
Incredible waterfront location
The location is undoubtedly one of the major attractions. Positioned in Patterson Lakes, the restaurant enjoys a superb waterfront setting that provides an atmosphere extremely difficult to replicate in a conventional retail strip.
The combination of water views, indoor and outdoor dining and an attractive modern fit-out gives the venue genuine destination appeal.
There is seating for approximately:
- 30 patrons inside
- 20 patrons outside
- Approximately 50 seats in total
The outdoor dining area takes advantage of the waterfront environment and provides an excellent setting for lunches, dinners, drinks and relaxed weekend dining.
Currently trading very limited hours
One of the most exciting aspects of this opportunity is just how limited the current trading hours are.
The business currently trades:
lUNCH
DINNER
Despite these very manageable hours, current sales are approximately $10,000 per week.
For an energetic new operator, the existing hours highlight obvious potential to further develop the venue through longer trading hours, expanded lunches, weekend afternoon trade, functions, events, takeaway and delivery.
Approximately $150,000 fit-out, just two years old
A significant amount has been invested in establishing the premises. The venue offers an impressive modern fit-out together with near-new, state-of-the-art commercial equipment.
Features include:
- Modern restaurant and bar fit-out
- Quality commercial kitchen
- State-of-the-art equipment
- Walk-in facilities
- Indoor and waterfront outdoor seating
- Liquor licence
- Approximately 50-seat capacity
- Established online ordering/delivery platforms
- Strong local following
- Fully staffed operation
- Excellent presentation throughout
- Walk-in, walk-out opportunity
A purchaser can avoid the considerable cost, time and uncertainty associated with designing, fitting out and establishing a hospitality venue from scratch.
Established sales, huge scope to grow
Current sales are approximately $10,000 per week, achieved while operating relatively short hours. The venue attracts a combination of local customers, walk-in trade and orders generated through online platforms. There is considerable scope for an incoming operator to put their own stamp on the premises and potentially increase turnover by extending the existing trading hours and making greater use of this outstanding location.
The premises could suit an experienced hospitality operator, chef/owner, partnership or hospitality group looking for a quality waterfront venue without the cost of establishing one from the ground up.
Lease Details
Current lease through to November 2027, with a further five-year option available.
Rent is approximately $7,883 per month + GST + outgoings.
For a venue offering this level of presentation, waterfront positioning and substantial existing fit-out, the opportunity deserves serious consideration.
Chattel Sale - only $5,000
With approximately $200,000 invested in the fit-out and equipment, an asking price of only $75,000 represents an exceptional opportunity for the right operator. The owner is selling due to changed family circumstances rather than a desire to walk away from the location or the quality of the premises.
Waterfront Patterson Lakes location. Near-new fit-out. Approximately $10,000 weekly sales on limited hours. Liquor licence. Fully staffed. $200,000 fit-out. Asking just $75,000.
Opportunities to acquire a hospitality venue of this standard at a fraction of the establishment cost are difficult to find. Inspection is highly recommended.
