The Local Lounge / Bar / Cafe - (Formerly Despana Tapas Bar)

$50,000

101 Glebe Point Road

Glebe NSW 2037

Food/Hospitality

BUSINESS FOR SALE

    • Franchise No
Phone enquiries - please quote property ID 34110.

A fantastic venue offers a wonderful opportunity. Step back in time at Local Lounge, Glebe's hidden Spanish Fusion gem. Channeling a speakeasy vibe. Exposed brick walls and plush banquette seating create an intimate atmosphere, while a cool retro theme adds a touch of fun.
Recently rebranded to reflect its dedication to being the ultimate chill-out spot in Glebe. Local Lounge offers a welcoming, rustic atmosphere perfect for creating memorable experiences. Glebe has a diverse demographic including professionals, singles, families, retirees, and students.

Location:
Situated on a main road shopping strip, amidst other eateries and close to the vibrant Glebe Markets, Local Lounge is ideally positioned to attract a steady stream of customers.

Features:

* Established Reputation: Over 12 years in operation - current owner managing it for the past two years.
* Asset Sale; includes all fixtures, fittings, equipment.

Key items:
* Full commercial kitchen with char grill, stainless steel benches, multiple under-bench fridges, freezers.
* Gas salamander.
* Licensed Venue: Fully licensed with a PSA, offering the new owner the opportunity to develop it into a beautiful bar / licensed Cafe
* Seating Capacity: Approximately 50 internal seats, plus additional licensed seating on the footpath, roadside dining and in the rear courtyard.
* 3 + 5 Years remaining on the Lease. Good Landlord.
* Rear laneway Car-space
* Alarm
* Staff bathroom, office and bedroom upstairs
* IMPOS POS system
* Ice Machine
* Rent is $1404 / week exclusive of GST

Further Potential:
The business is currently only trading 5 nights and one lunch service. The current owner is selling due to other business commitments, there is significant potential for the right owner to expand the business.
The site would make an excellent Cafe.

Opportunity:
Whether you are already in the hospitality industry or aspiring to be your own boss, Local Lounge is an excellent opportunity. It’s priced modestly, less than it would cost to set up a similar business from scratch.

Turnkey Sale:
This is a turnkey Asset sale – walk in, and start trading immediately, with no additional investment required.

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