1 Mowamba Place, Thredbo

Popular T-Bar Restaurant in Thredbo Village ‘Pizza, Dining & Takeaway’ – For Sale including Leasehold Strata – $570,000

SOLD
Property Description

This very popular and well positioned Restaurant/Pizza shop is being sold inclusive of the premises and fittings, with the owners looking to relocate offshore and concentrate more on their additional business in Sri Lanka.

The owners have run the T-Bar since 2004, running it jointly with another business partner, before buying them out in 2008 and continuing to run the shop successfully now!

The shop has operated as a restaurant/pizza shop for several years, positioned in the central village of Thredbo, the owners have built the business up to a point where it turns over $38,800 (incl GST) per week in the ski season. If you know the Restaurant/Pizza game you’ll know the margins make for an excellent profit.

There are many opportunities for someone else with fresh eyes, some of the opportunities identify include:

  • Return to doing lunches, we had successfully built up a lunch trade, however decided to stop quite simply because we wanted to ride more
  • Late night dining – we are in the process of changing to a Primary Service Authorization and could quite easily operate later as more as a bar/watering hole
  • Increasing the summer hours – we normally finish winter and go to Sri Lanka for a couple of months till Christmas, there is an opportunity with the increased mountain bikers to the village to trade during November & December when we previously have not, Note – we also close after easter and then go back to Sri Lanka, so for at least (4) four months of year there is further room to increase trade when we are currently not open at all
  • Opportunity to operate three services a day breakfast lunch & dinner – Even just as a takeaway coffee window.
  • Potential to offer outdoor dining, increase take-out, with COVID-19 restrictions, we put in a takeaway window and online ordering, which naturally increased take away sales with no advertising all word of mouth, we believe there is a real opportunity to actively work on this area
  • Sublease – opportunity, too split the lease, similar to that of the Burger Bar in the Thredbo, the rent is good as we were successful with Kosciusko Thredbo Pty Ltd when the head lease went through with rent increases being set at CPI.

Operating Hours

  • Currently operating four (4) nights a week and not excessively long hours 6:00 – 8:30pm  I  Closed Tuesday, Wednesday, Thursday
  • School Holidays 7 nights a week 5:00 – 8:30pm
  • Winter Ski season 7 nights a week, 5:00 – 8:30pm

Overview

  • When you consider the location, the rent is excellent at $5,206.39 per month OR $62,477 for this year + GST, being the 20/21 rent. The sublease to KT runs out 2057. So, there is 36 more years to run
  • The Shop size internally is approx. 135sqm – equates to rental rate of $462/sqm
  • Seating for 56 people, plus takeaway window.
  • There are no unusual or high outgoings, common area costs/building costs are low at just 2.71% – being currently $595.65 per month
  • There is an optional separate external storeroom on a separate license
  • The business boasts an extensive range of plant and equipment as detailed at the following link: click here to download
  • As we approach the busy the autumn & winter periods, we anticipate this business will sell very quickly

For Sale WIWO – Everything included to enable you to hit the ground running, the business sale includes Strata Leasehold Shop

Contact –  Michelle Stynes today to express your interest – You will be required to sign of confidentiality agreement at which stage we will send you more information and further details of the business.