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Central Ontario Georgian Bay Gem For Sale

Central Ontario, Ontario, Canada
Asking Price:
$379,000 (CAD) Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
$1,400,000 (CAD)
Cash Flow:
$100K - $250K (CAD)

This award winning restaurant, originally established in 1955, has consistently received high reviews on Trip Advisor. It has received Reader's Choice Awards as the best casual dining restaurant in the area since 2007 and has a strong following of loyal customers, both local and return visitors to the area. Located on the main street in the downtown area it has been recognized for it's community involvement and it's historical support of the town. The walls are decorated with historical pictures and artifacts of the area which are included in the price. Building could possibly be for sale.

If interested, please contact the seller through the form on this page.

Property Information

Real Estate:

Lease

Lease Terms:

5 year term with option for three additional 5 year terms.

Leasehold Rent:

$84,000 (CAD) per annum

Living Accommodation:

Bachelor apartment available on lower level

Location:

Prime location on main street of town.

Premises Details:

3500 sq. ft. restaurant, kitchen and large new bathroom facilities on main floor. Seat 139, licensed for 149. 2500 sq. ft. addition on lower level with ground level entrance off large rear parking lot. This area contains 3 walk in fridges (one for draught beer) and 1 walk in freezer. Also included is an additional kitchen for prep and storage, 2 staff washrooms, staff facilities, office and accommodation (bachelor suite). Kitchen equipment is relatively new and well maintained, including HVAC systems. New wiring and all plumbing replaced with the last 12 months. New roof August 2019.

Size in square feet:
Main floor 3500 sq ft Lower level 2500 sq ft

Business Operation

Expansion Potential:

Facilities allow for potential to expand into catering where there is a high demand as well as take-out delivery.

Competition / Market:

Well established business in the downtown area.

Reasons for selling:

Owner retiring.

Trading hours:

Open 7 days a week 11:00 a.m. until 10:00 p.m.

Employees:
22
Years established:
Originally established in 1955; current owner for 15 years.

Other Information

Support & training:

Present staff willing to stay under new owner; seller willing to provide training.

Financing available:

Financing possible to qualified buyer

Furniture / Fixtures value:
$400,000 (CAD) - included in the asking price
Inventory / Stock value:
$18,000 (CAD) - included in the asking price

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