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SOLD-Upmarket Bar, Lounge, & Gaming Venture-Central Gauteng For Sale

Central Gauteng, Gauteng, South Africa
Asking Price:
R10,500,000 Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
R13,400,000
Cash Flow:
R1.5M - R3M

The luxury offered by this Bar, Lounge, and gaming has a different take on dining and entertainment, bringing clients and some of SA’s sought-after DJs and traditional decadence in Tembisa. Forming part of the heart of this vibrant community, the on-trend Bar & Lounge throbs with the spirit of Ubuntu and absolute luxury combined with South African tradition
Having opened to the public on August 24, 2020, this first-of-its-kind restaurant’s menu serves up extravagant renderings of local dishes and desserts, paired with a fine selection of wines, cigars, draft beer, and spirits. This Bar and lounge occupies two levels in a prime position within a Busy mall.
The upper level enjoys sweeping views with mesmerizing night-time vistas of the area’s twinkling city lights for miles around. The venue boasts three bars, seating for over 300 people, and multiple VIP areas where patrons can relax and enjoy the remarkable atmosphere
Uniting traditional cuisine with ultra-modern, chic interiors, this Bar & Lounge has become a nightlife destination with contemporary music, live entertainment, and sports TV screens, drawing patrons from near and far to indulge in a richly South African experience

Please complete the NDA attached if you wish to receive more information

Property Information

Real Estate:

Lease

Lease Terms:

Long term. Will negotiate a lease on acceptable terms to buyer. i.e. 5 + 5 years

Leasehold Rent:

R2,100,000 per annum

Location:

Central Gauteng

Premises Details:

Although the modern two-level restaurant appeals to nightlife, it certainly does not lack the finesse and freshness of a daytime destination. Both levels of this Bar & Lounge enjoy floor-to-ceiling fold-away doors, opening the restaurant to the bright, natural light and invigorating air of a typically gorgeous highveld day. On chilly or wet days, diners may huddle indoors, cozied up by indoor heating

Size in square feet:
13,454
Planning Consent:

Liquor Licenses are in place with all the necessary approvals. Fully legal operation

Business Operation

Expansion Potential:

Yes... but can accommodate 400 clients

Competition / Market:

Yes... but they are in a league of their own

Reasons for selling:

Will be divulged to a serious buyer

Trading hours:

(Lounge - 1st Floor) Monday to Thursday: 4pm-10pm
Friday to Saturday: 12pm-2am & Sunday: 12pm-12pm
(Gaming – Ground Floor) Monday to Sunday: 8am to 10pm
(Grill – Ground Floor) Monday to Sunday: 8am to 10pm

Employees:
2 x Managers, 2 x Floor Supervisors, 1 x Marketing, 4 x Barmen, 15 x Waitrons, 6 x General Assistants / Cleaners, 2 x Kitchen Coordinators, 8 x Kitchen Staff
Years established:
Four

Other Information

Support & training:

The owner is prepared to stay on for a period to provide full training and assistance

Financing available:

No

Furniture / Fixtures value:
R8,000,000 - included in the asking price
Inventory / Stock value:
R500,000 - included in the asking price
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