Successful Central City Fine Dining Restaurant In Christchurch For Sale

Business description

Central City - Christchurch New Zealand

This award winning well established Restaurant has an enviable reputation for excellent food and service. The unique location is arguably the best Restaurant site in Christchurch. Our cliental is a mixture of local and international guests.
Primarily an evening Restaurant (100 seats) with great lunch potential. The business would suit an investor or a couple who are passionate about food and service. The Restaurant has professional staff who are loyal to the business. This is a business that performs well regardless of the economic climate.

The Restaurant has tended to source and employ English trained Chefs, the latter (3) Head Chefs being recruited from the UK. This is an excellent business opportunity for a couple/family wishing to immigrate to NZ where purchasing a business would be an advantage.

Having owned and operated the Restaurant for several years the current owners are seeking a lifestyle change.

Full financial and operations information will be made available to serious purchasers.

Property information

Real Estate:

Lease

Lease terms:

A copy of the Lease would be supplied to serious purchasers

Leasehold rent:

$80,000 per annum

Leasehold rent:

$35 per sq ft per annum

Location:

Central city location sited just 80m from the Bridge of Rememberance on the banks of the River Avon. The Restaurant and 1907 building survived the 22 February earthquake, after closing for 10 weeks was back in operation, and has now been open for 6 months. The Restaurant has a busy lunch and evening trade, open 7 days. Recently a new outside deck was built to cover the riverside terrace. With the new Cashel Street City Mall open - patronage has increased with people coming back into the city.

This is a very high profile site that enjoys dual street frontage. The riverside terrace offers excellent views of the river and natural widelife i.e. local ducks/swans and other birdlife.

Premises details:

Standard Auckland District District Law Society Lease, with rent reviews adjusted bi-annually to consumer price index. Lease 17.5 years remaining.

Other information

Planning consent:

None required.

On and Off Licence - granted. Late liquor licence applies.

Competition / Market:

Tiffanys Restaurant is arguably the best known Restaurant in Christchurch with a history spanning 29 years. The Restaurant is known for its Beef & Lamb dishes and specialises in regional food and wines. There is a strong demand for the traditional dining experience with white linen tablecloths, napkins, and candlelight, with many Restaurants lost - Tiffanys is a piece of Christchurch heritage that remains.

Support & training:

Full support and training given

Reasons for selling:

Owners after 8 years wish to explore other interests. They own a cruising yacht currently moored in Turkey and wish to spend more time on it. Note, the business was closed for one month in the Winter of 2007 and 2008 when the owners travelled to Europe to sail the Mediterranean.

Trading hours:

Monday to Sunday until close

Financing available:

Approved purchasers may be eligible for some Bank finance as our current Banker's are familiar with the trading history of the business.

Furniture / Fixtures value:

$200,000 (included in the asking price)

Inventory / Stock value:

$30,000

Website:

www.tiffanys.co.nz