Lake Waihola Cafe & Bar is an ideal Freehold Going Concern opportunity for a hospitality couple looking for a lifestyle change just south of Dunedin.

It is a modern country tavern with main bar, restaurant area including a function room, amenities and a modern two bedroom owner’s accommodation. The premises were rebuilt in 2009/10 to a high standard which included earthquake strengthening.

The business is trading well and there are potential opportunities to further market the business online and create a website. There is a long lease in place until 2032 which includes two rights of renewals of six years in 2020 and 2026.

The restaurant area has a large bright dining room and has an adjoining function room which caters for approx. 80 guests. This leads out to a garden bar which seats an additional approx. 40 guests. The function room caters for birthdays, mid-winter get-togethers, engagements, graduations and Christmas functions as well as casual diners.

The bar has both an on and off site license, a feature stone fire place, gaming machines, sound system and TV's and an outdoor smoking area.

The Plant & Chattels are approx. 6 years old, there is an external chillers, 20ft storage container, tank room and shed and garage.

Broker's Comments:

There is a great opportunity to own the business at $330,000  - the Freehold Going Concern at $955,000 or just the Freehold Investment with a great lease in place giving a good return near 8% at $625,000 (all plus GST, if any).

This is a great business, great land and buildings on State Highway 1, this property enjoys awesome exposure to passing traffic and the property enjoys great local loyalty. 

Call Adrian Chisholm, AREINZ, the specialist Hospitality Business Broker on Mobile: 021 727 888 or Email: adrian@tourismpropert