Ad ID: 67022 Inactive

Tavern Bar and Restaurant for Sale Silverdale Auckland

The Wade - Silverdale's Local Since 1863

+Stock of $25,000

Business for Sale Description

Tavern Bar and Restaurant for Sale Silverdale Auckland

How many NZ hospitality businesses do you know of that are thriving after 150+ years? 

Weekly Sales = $27,000+ (GST Incl) 

Turnover to Rent Ratio = 13% (pokies cover majority of the rental) 

Originally The Wade Hotel. The Wade has a long standing history in Silverdale since 1863, burning down in 1898 and rebuilt to what it is today. Once owned by famous All Black Buck Shelford, The Wade is the go-to local for friends and families in the surrounding areas and has an enclosed outdoor area that kids can roam freely and play which keeps them out of your hair and within sight. 

From Sports bar to Bistro bar The Wade caters for all types of diners, with great beers from Lion and the famous eye fillet and scotch fillet steaks will be sure to satisfy. The wade is a great place for functions, as well as an ideal venue for watching the latest sporting matches. 

The wade is also one of the few places around that has gaming machines which pay for majority of the rental. 

On top of the building is a 3 bedroom accommodation where the current owners reside, you won't ever have to commute to work again! 

Business Highlights 

- Strong weekly sales average of $27,000+ (GST incl) 

- 12 Gaming machines for great residual income 

- 12 years lease extension available 

- 34,128 litres of beer/wines/spirits poured in 2017 F.Y 

- Booming residential developments in and around the Silverdale area 

- Option to live above the business in the existing accommodation as part of lease or rent it out 

Current wage costs are high at over 37% and COG's over 36%, this leaves massive opportunity for a sharp operator to add a further $120,000-$140,000 to an already substantial bottom line. 

Want to find out more? Give Sterling Arnet the hospitality specialist a call today to discuss. 

Asking Price: $525,000 + Stock of $25,000

Agency reference #: KA1556

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