Beautiful Restaurant in Southern Highlands - Asset Sale
Asset Sale Description
We are exiting the restaurant business via an asset sale with lease assignment, which requires landlord approval. Sellers will consider an equity sale if desired. The venue is currently operating, so the name and precise location are details to be furnished post NDA.
It's a recent build and we were the first tenant - it's in great shape. Currently operating as a Mediterranean Bistro generating approximately $1m revenue per year. Seating is 80 inside and another 40 on the patio.
3,786 sf (plus patio), rent is $3 psf, lease is ten year with two ten year options (began October 2021)
The current owners are not principally restaurateurs, rather an investment company who has elected to redeploy its capital to other opportunities. We envision an asset sale along with a lease assignment, however will consider an equity sale if preferred.
The lease assignment will require the consent of the landlord, therefore substantial financial wherewithal is necessary and experience operating restaurants will be a must.
It's a recent build and we were the first tenant - it's in great shape. Currently operating as a Mediterranean Bistro generating approximately $1m revenue per year. Seating is 80 inside and another 40 on the patio.
3,786 sf (plus patio), rent is $3 psf, lease is ten year with two ten year options (began October 2021)
The current owners are not principally restaurateurs, rather an investment company who has elected to redeploy its capital to other opportunities. We envision an asset sale along with a lease assignment, however will consider an equity sale if preferred.
The lease assignment will require the consent of the landlord, therefore substantial financial wherewithal is necessary and experience operating restaurants will be a must.
About the Sale
- Seller Motivation
- Exiting the restaurant business entirely.
Listing Info
- ID
- 2370653
- Listing Views
- 835
Listing ID: 2370653 The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. See our full Terms of Use. Learn how to avoid scams.
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