Established Neghbourhood Lounge And Restaurant For Sale

Business description

Established Neighbourhood Pub with 8 VLTs, ATM, Pool Table, and full kitchen.

VLT revenues cover all overhead expenses. Opportunity for additional VLTs at location.

This business would greatly benefit from a hands-on owner that has an interest and/or experience in food service.

Hours of operation - Mon.-Fri. 10:00 - 12:30 and Sunday 12:00 - 12:30. Opportunity to apply for extended license.

Located in a busy market, with little competition, the local area has been growing in the right diretion and will continue to do so with a few major capital projects that are currently planned or underway.

Seller is providing a fresh coat of paint in the lounge and steam-cleaning all carperts before closing.

NOTE - Nova Scotia VLT licenses are extremely hard to come by. Don't miss this opporutnity to capitalize.

Property information

Real Estate:

Lease

Lease terms:

Lease expires June 2010. New 5 year will be negotiated by current owner. (valuable)

Leasehold rent:

$68,820 per annum

Size in square feet:

greater than 3000 (buyer to verify)

Other information

Expansion potential:

- Restaurant (all necessary equipment included in purchase price)
- Approved for patio
- Additional VLTs
- Extended operating license

Reasons for selling:

Absentee owners, each with Full Time jobs, focus is not on the business. 8 years as owners

Inventory / Stock value:

$6,000

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