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Potential to own a thriving restaurant – St Kilda

$65,000

Potential to own a thriving restaurant – St Kilda

$65,000

Summary

An opportunity for a new owner to take over this established and reputable restaurant, which is unfortunately forced to sell due to owners health issues. Currently closed and operating on an ad-hoc basis only, this restaurant is looking for a new owner to take advantage of picking up a business with plenty of potential

About the Business

Lying in the busiest commercial street in St Kilda in a highly sought-after location is this restaurant which has a loyal and established clientele. The licenced restaurant has seating capacity for 65 and comes with nearly $150k worth of commercial equipment and furnishings.

Key features
→ Busy hot-spot in St Kilda with high foot traffic
→ Great little family business
→ Would suit owner operator
→ 4.9 star reviews only from it’s loyal clientele
→ Walk in cool room
→ Walk in freezer room
→ Rear access
→ Well equipped and fitted
→ Prime location on the bustling Acland Street St Kilda

Financials
→ 2+3 year lease
→ Taking $40k+ per month (prior to closing due to health issues)
→ 3 x employees including a chef
→ $150,000 worth of commercial equipment & furnishings included in sale
→ Owner must sell due to family issues

Please contact Sadeq for further information

To arrange an inspection or for more information, please contact:

Sadeq Abbass
0433 525 731
sadeq@abbass.com.au

Abbassbusinessbrokers

Confidentiality Agreement Vendor

IN THIS AGREEMENT:

“The vendor’s agent” is from ABBASS Business Brokers (Address: Level 1, 459 Toorak Road, Toorak VIC 3142)

WHEREAS:

  1. The vendor is the proprietor of the business
  2. The prospective purchaser
    • Warrants that it has the financial capacity to purchase the business;
    • Wishes to have more information (“the information”) about the business for the purpose of deciding whether to purchase the business;
    • Acknowledges that the information could cause serious loss and / or damage to the vendor should the information become known to third parties; and
    • Acknowledges that the vendor and / or the vendor’s agent have sole discretion as to the content of the

IT IS AGREED AS FOLLOWS:

  1. In consideration of the vendor providing the information to the prospective purchaser, the prospective purchaser agrees and undertakes as follows:
    • Not to make direct contact with the vendor or any member of the vendor’s staff without prior written consent of the vendor’s agent
    • Not to enter into any negotiations or an agreement to purchase the whole or any portion of the business except through the vendor’s agent
    • That subject to clause 1.4 of this agreement and in the absence of prior written consent to the contrary from the vendor, the prospective purchaser shall keep confidential and not disclose, suffer or permit the disclosure to any person of the fact of the business being offered for sale or of any matter contained in the information
    • Not to use or permit the prospective purchaser’s professional advisers to use the information for any purpose other than for the exclusive purpose of assessing the suitability of the business for the purpose of purchase by the prospective purchaser and then only on the basis that the prospective purchaser shall:
      • Inform the prospective purchaser’s professional advisers of the existence and terms of this agreement;
      • Be responsible to ensure that the confidentiality of the information is respected by the prospective purchaser’s professional advisers in the same manner as provided in this agreement;
      • Be responsible for any breach of this agreement by comprising the disclosure of the information by the prospective purchaser’s professional advisers other than in accordance with this agreement
  • Not to take or permit any other person to copy, reproduce, or take extracts from any part of the information;
  • Not to contact or permit any other person to contact or make enquiries of any customer or client of the business, or staff member employed by the business, or the accountant, solicitor or financial institution of the vendor without obtaining the prior written consent of the vendor. This clause does not apply to inspections or meetings arranged by and conducted in the presence of the vendor or the vendor’s agent
  • To immediately return to the vendor’s agent all information including other written details including drawings, handwritten notes and or extracts of the same, together with any copies of any such documentation made during the prospective purchaser’s evaluation of the business in the event that the prospective purchaser and or the vendor or vendor’s agent cease negotiations in respect to the purchase of the
  1. In the event of a breach or threatened breach of the terms of this agreement by the prospective purchaser or any other person to whom the prospective purchaser has provided the information, the vendor shall be entitled to an injunction restraining the prospective purchaser from committing any breach of this agreement without showing or proving that any actual damage has been sustained by the vendor.