Palmer Street Restaurant – Recoup Purchase Price in 1 year!

What a spectacular buy!!

• Sale price of $150,000 + stock
• Net profit of $160,000 per year
• Fantastic, modern fitout that’s only 18 months old 
• Recoup your purchase price in 1 year! 

This popular waterfront restaurant on Palmer Street, South Townsville has been operating for over 18 months and boasts uninterrupted views of the stunning blue water of the marina and the river to ocean mouth. The vendors own the freehold and after an extensive renovation of the premises, the business is now one of Townsville’s finest and modern venues, and teamed with the culinary skills of their head chef, the business has established itself amongst Townsville’s top dining restaurants.

The restaurant is very popular with local and tourists thanks to its modern, wide range menu which includes a great variety of mouth-watering lamb, duck, pork, steak, seafood, vegetarian and gluten-free dishes. The fully licensed business also has a Showcase Bar of 44 rums, 43 whiskeys and 8 vodkas and a very extensive wine menu for all occasions.

The business generally caters for 110 to 120 seated patrons. The wedding layout caters for 100 seated patrons. Stand up functions can cater for 165 to 195 patrons.

The plant and equipment is in excellent condition and the set up costs are substantially higher than the asking price of the business.

Many areas of competitive edge exist including:

• Perfectly positioned on Palmer Street, one of North Queensland’s premier dining and entertainment strips
• Stunning views over the marina and mouth of the river to ocean
• Large restaurant with movable partitions for multiple functions
• Cool alfresco dining area with breathtaking views
• Popular venue for weddings, functions and special events
• High quality, modern food range catering for all tastes
• Good profits – makes $160,000 net profit per year
• Excellent fitout and furnishings – only 18 months old!
• Large kitchen with off road loading area
• Large bar with great range of Australian and imported beverages
• Option to develop the upper floor
• Proposed new ferry and commercial developments
• Convenient car parking

With an asking price of only $150,000 + stock at valuation (estimated at $20,000 to $25,000) and a net profit of $160,000 per year, this spectacular restaurant is not expected to stay on the market long. Enquire today!

To receive a full Sale Proposal, please complete and return the Confidentiality Agreement (click here to download). Alternatively, contact Susan Butler on 0419 905 463.