You'll find the George White Bar at the top end of Fitzroy Street nestled at the base of the Old George Theatre. The venue is only open for two nights a week at the moment and does a roaring trade in that period. There is a consistent crowd that comes in each week to listen to the DJ's and dance till the early hours of the morning. The annual big pay days of the St Kilda Festival, New Years Eve and Gay Pride bring some nice boosts to the steady income.
The George White Bar has a late night general licence allowing off premiss sales until 11pm and on premise sales until 3am. The capacity inside is set at 154 with footpath trading for 16 at the front of the venue, these seats being highly sort after on the Summer evenings. There is a comprehensive list of fixtures and fittings that are included in the sale. There are eleven years left on the lease made up of 1+5+5 with rent including GST coming in at $2000 a week.
The venue also has a detailed set of accountants verified books showing an average weekly income of $16k showing an annual net profit of $245,000. The George White Bar is run completely under management and the team can be retained if desired. The venue suits both an owner operator with or without other business interests or a passive investor. The vendor has other venues and is looking to downsize and so is expecting offers in the region of $425,000 for this exclusively listed venue. Vendors terms can be arranged for finance.
This venue is now SOLD.