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Iconic Richmond Restaurant for Sale

$299,000

Melbourne City Region, Victoria

Iconic Richmond Restaurant for Sale

A longstanding Richmond restaurant established eight years ago offering modern fusion cuisine and a Hibachi Grill and Wine Bar experience.

*Average takings of $26,900
*Expansive 507 sqm premises
*Rent at only $2,398 per week
*Includes $300,000 worth of assets and equipment
*Underwent a $1.4 million renovation for setup
*Situated on a bustling street

Nadia Polzella and the team at LINK Melbourne are thrilled to present a well-established Japanese restaurant in the east of Melbourne’s Central Business District to the market.

The Japanese restaurant has a solid 4.5-star rating on Google from 330 reviews. Its flexible operating hours cover lunch and dinner from Wednesday to Monday, generating an average revenue of $26,900.

Established eight years ago, it underwent a significant upgrade in 2020, evolving into a modern Japanese fusion eatery with a Hibachi Grill and Wine Bar. Despite absentee ownership, the capable team of five full-time and one part-time staff manages the eatery.

Situated on a busy street, it has consistent foot and road traffic, offering a prime location for culinary exploration. Renting at $2,398 per week until September 2026, the 507 sqm premises underwent a $1.4 million renovation featuring modern amenities.

The restaurant's strategic location near public transport and ample street parking aligns with its diverse clientele, including families, young adults and event attendees, making it a popular choice for many visitors.

With the potential for any culinary concept and full management in place, there's an opportunity to reduce operational costs, particularly in wages, enhancing profitability.

Listing ID: ME02891
Broker: Nadia Polzella
Phone: 0417 641 990
Email: nadia.polzella@linkbusiness.com.au
Ref: ME02891
Timestamp: 20240515020003

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Last updated: 15th May 2024

Summary

Property Type
Business
Contract Type
For Sale
Location
 Melbourne City
State
 Victoria
Price
$299,000
Category
  • Restaurant

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Agency

LINK Melbourne / Tasmania

LINK Melbourne / Tasmania

Contact

Nadia Polzella