VELUDO - 3182

Based in the heart of Acland Street in St Kilda this is an extremely well known venue that attracts not only a significant amount of walking traffic but also is a well known destination venue at the weekends.  
Downstairs there is a licensed cafe set up with plenty of footpath trading.  The bifold doors open up to give small tables and benched seating which leads through to a more relaxed lounge area at the rear of the venue in front of the fire. A large well equipped kitchen with cool rooms provides service to both levels.
Upstairs is accessed through door to the side of the cafe.  The area is split in to three parts.  At the top of the stairs there is a small bar that looks after all the patrons in the garden area.  A retractable roof opens up to allow smoking and a balcony looks out over Acland Street giving a roof top feel.  The main bar has the dance floor and stage in front of it.  To the rear of this level there is a function room with a private bar and this holds about 70 patrons.
The venue has a 3am licence with a capacity of 300.  The lease is a 5x5x5 , 15 years. Rent is only $3600 inc GST a week, which is very low for such a large place in Acland Street. 
This venue is owned by one of the large hospitality groups and they are looking to change some of their portfolio.  The venue is well managed and whoever takes it over can run as is with a very good profit margin or add their own spin to this Acland Street venue.  The owners have an asking price of $850,000.
This venue has now SOLD.