Red Olive is on St Georges Road in Fitzroy North. The venue is in excellent condition, with an exemplary fit out. The owner has decided that is it time to retire and so is just walking away from the business. So he has not exercised the final term of the option in his lease and so would like to get an offer and be under contract by the end of the month or he will strip the venue and leave. There are only three years left on the lease as the landlord has been looking to develop the block but whether that happens or not is another matter. So further terms are available upon negotiation but with the landlord retaining the right to develop. With this in mind the rent has been reduced significantly to just over $1000 a week and that includes all outgoings. A new lease and disclosure statement will be drawn up for the new tenant.
The venue itself has a large street frontage and then inside a central bar and wood fired pizza oven. Dinners are seated throughout the venue around the core serving area. To the rear of the venue is a lounge area with a large suspended fireplace where patrons can relax with a drink before or after dinner. To the rear of the venue there is a under utilised courtyard with seating. On route to the courtyard is a large open plan commercial kitchen with office and storage space opposite.
The venue has a restaurant and cafe licence with a capacity of 100. All fixtures and fittings are included in the sale and there is an extensive asset register.
The venue suits an owner operator who has always wanted to have their own pizzeria. There is nothing to do except open the doors and trade. Help also comes from next door “Monty's” which CRE also recently sold and they have a deal with the venue to supply pizzas to all their patrons. This exclusively listed venue is an exceptional opportunity which can be snapped up for only $60,000. This venue is now SOLD