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1 Genge Street, Canberra ACT 2601

Other
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$5,000,000 Turnkey Fit Out - Premium Position in Canberra's CBD - Ready for next owner.

Are you ready for a game-changing investment in Canberra's thriving hospitality scene? Then look no further than Wilma and The Pearl.

Following a respectful change of direction by the current owners (5 of them), the highly sought-after bar and restaurant in Canberra's CBD is now looking for its next owner.

Despite a Covid hangover and rising cost of living, the businesses generated a turnover of $4,300,000 + and a gross profit of $3 million plus in the 2023 financial year.

The venue is ready for transformation into a pub, late-night bar, or nightclub to build on its proven past success. A unified hospitality leader must write the next chapter and take the business to the next level.

The establishment boasts an impressive $5 million fit-out with no expenses spared, featuring fully equipped bars on multiple levels. Positioned in the heart of Civic, it attracts locals and visitors to the nation's capital.

Enjoy unrivalled foot traffic and parking, generating a steady stream of patrons. Strategically positioned, it ensures visibility and accessibility, not to mention the two new luxurious hotels set to grace the neighbourhood within a mere 100 metres of the location.

Secure a long-term lease, with favourable terms from a landlord committed to fostering success.

Revel in expansive, rent-free outdoor areas, perfect for al fresco dining and vibrant events.

The current owners, at significant expense, added the second story, which means it's effectively 300 sqm rent-free!

Abundant function spaces and private rooms cater to every celebration and gathering. Ample office and storage facilities ensure seamless operations and the possibility for extra income.

The business is licensed for 510 patrons, and the monthly rent for the nearly 700 sqm footprint is $31,000 per month, including GST and outgoings.

The 7-day liquor licence permits service between 7am and 4am, and the venue is not plagued with noise complaints that Braddon-based venues endure.

Although Wilma earned accolades, securing a spot on Australia's best new restaurant list in the Sydney Morning Herald and among Australia's top 80 restaurants by the Gourmet Traveler, there is an opportunity to infuse fresh energy and a new identity into this esteemed restaurant and bar arrangement.

The groundwork is laid, and the potential for further innovation and growth is boundless.

As the curtains close on one chapter, a new one eagerly awaits. Take the reins and redefine excellence in Canberra's premier culinary and nightlife realm.

Expressions of interest are sought and close on 23/3/24. Please email sales@capitalcommercial.com.au with your full name and mobile expressing interest in Wilma and The Pearl.

nbn® Fibre to the Premises (FTTP) is available in this property
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Key details

Property type:
Other
EER:
0.0

Other Details

nbn® availability:
nbn® Fibre to the Premises (FTTP)
Capital Commercial Business Sales
  • Capital Commercial Business Sales

    Capital Commercial Business Sales

  • Frank Walmsley

    Capital Commercial Business Sales

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What's nearby

Ainslie Primary SchoolPrimary School
0.8km
Campbell High SchoolHigh School
1.4km
Calvary Private HospitalHospital
4.9km
Canberra CentreMajor Shopping Centre
0.3km
Australian National UniversityUniversity
1.3km
Merici CollegeCollege
1.3km
City Post OfficePost Office
0.4km
Aust. Defence AcademyTafe
3.1km

Property history

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Canberra suburb information

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SummaryMedian sales
Average Age
27 years
Population
4,835
Listing ID: 182575830. This listing has been viewed 609 times. It was first displayed on 11/06/2024 and last updated on 11/06/2024.
Allhomes acknowledges the Ngunnawal people, traditional custodians of the lands where Allhomes is situated. We wish to acknowledge and respect their continuing culture and the contribution they make to the life of Canberra and the region. We also acknowledge all other First Nations Peoples on whose lands we work.
"With open hearts and minds, together we grow." artwork by David Williams of Gilimbaa.