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Popular Bar And Restaurant In Johannesburg For Sale

Johannesburg, Gauteng, South Africa
Asking Price:
R2,500,000
Sales Revenue:
R14,000,000
Cash Flow:
R200,000

A Street bar Named Desire has been open since May 2019. We are extremely busy and have a massive balcony area with sunset views each evening. The shop is beautifully designed by the renowned design team of Studio A. We spent R4.6 million on set-up of the shop with no scrimping on beauty and quality. Street bar has DJ's on weekends and gets really festive. Our pre-covid annual turnover was R14m and we have had a post-coved annual turnover of R9 million and we are currently increasing t/o on a daily basis. The shop has ample sound, own ice and coffee machines, 2 bars, awnings and a roof on the deck so the deck is useable when it rains. The large outdoor deck is perfect for social distancing and covid requirements. There is also potential to expand into the building behind the shop if one was to want a proper soundproofed dance floor, as the building is owned by the same landlords. We serve a middle eastern tapas style menu as well as a Perron Mexican menu at the same time.

For more information, please contact us by using the form below.

Property Information

Real Estate:

Lease

Lease Terms:

2.5 years left although landlord will offer new lease for a further 5 years if desired.

Leasehold Rent:

1 080 000 per annum

Location:

Located on the ground and first floor balcony of a shop on major road, Parkwood, JHB.

Premises Details:

Two stories with a massive outside covered balcony. Can hold 250 pax at its peak. Tasteful interior and beautiful furniture.

Size in square feet:
290

Business Operation

Expansion Potential:

Can definitely expand the shop backwards into the building and create a soundproofed dance floor.

Competition / Market:

Covid was a challenge but we are getting through it and survived well. No other real competition as we are the busiest bar/restaurant in the area.

Reasons for selling:

I moved to Cape Town during lockdown to find work, have settled in well and would like to stay, so need to sell the business.

Trading hours:

Monday - Thursday 4pm - 2am (earlier depending on curfew times)
Friday - Sat 12pm - 2am
Sunday 12pm - 8pm.

Employees:
13 permanent - 12 bar tenders/waiters
Years established:
2.5

Other Information

Support & training:

We will gladly help wherever needed

Furniture / Fixtures value:
R2,500,000
Inventory / Stock value:
R70,000
Website:
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