A rare combination in the Adelaide CBD: a profitable, 13-year hospitality operation and a substantial ~264 sqm dual-tenancy footprint, offered as a going-concern business sale on secure leasehold terms.
The business has operated from the same high-exposure West End position since 2012, serving the weekday breakfast and lunch trade generated by surrounding offices, apartments and the adjacent Adelaide University City West campus (~70,000 projected students). The precinct is mid-renewal: the City of Adelaide's $15M streetscape upgrade is under construction, CBD office vacancy is tightening, and mid-week attendance has recovered to ~94% of pre-pandemic levels.
Going concern: FY2025 revenue $728K, gross margin ~73%, normalised PEBITDA $155,558
Full commercial kitchen with walk-in cool room - supports in-house production plus a ~$109K [Web Link Censored]. catering line
60-80 seats across indoor and outdoor areas; complete fit-out and equipment included
Secure tenure: lease to 2028 plus 5-year option; rent-to-revenue ~18%; $20,000 bank guarantee on assignment
Five-day operation (Mon-Fri 7am-3pm) - evening, weekend and delivery capacity unexploited
Asking price: $289,000 WIWO
The sale comprises goodwill, plant & equipment, fit-out and intellectual property, with stock additional at valuation. Replacing the fit-out alone is independently estimated at $475K-$660K, well above the asking price. Vendors will provide 2-3 weeks' handover; sale conditional on landlord consent to lease assignment on current terms.
Contact: Shweta Sharma - Accelerate Business & Franchise Sales (RLA [Phone Number Censored] [Phone Number Censored] 097
[Email Censored]
[Web Link Censored]
*All enquiries strictly confidential. Full Information Memorandum available to qualified buyers upon completion of a confidentiality agreement.*
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