Rare chance at Tom Collins Bar
Ruthven St venue for sale 13 months after opening
IT’S the Ruthven St bar that offers Toowoomba something different, and now it’s up for sale.
Tom Collins has been put to the market 13 months after its grand opening, with expressions of interest opening to buy the bar “lock, stock and barrel”.
While it’s the fifth business to operate from the space, the sale is the first time in more than eight years people have the chance to buy the freehold premises.
Colliers International managing director of commercial sales and leasing Dan Dwan said the UK-based owner was divesting a number of property interests in Toowoomba including the bar on Ruthven St.
“At the current time (the owner’s) got a really good management team in place running it on his behalf,” Mr Dwan said.
“He wants to realise the asset. It’s been up and trading for a good period of time.
“He’s seeing it as an opportunity to sell the property and business as freehold.”
Tom Collins opened in June last year promising to deliver to the Toowoomba dining scene an exclusive gluten-free menu in a casual lounge-bar style venue.
Mr Dwan said the owner bought the 370sq m property in 2009 and had held it through a number of business changes in that time.
Tom Collins marks the fifth business to run from the property, with Swish Wine Bar and Restaurant opening in 2009.
Campari Bar took over from there before the Olive Branch opened, Veraison and then Tom Collins opened.
Acknowledging the changing face of the venue, Mr Dwan said Tom Collins had a strong business profile backed by a management team keen to stay on staff.
Its location between the Burke and Wills Hotel,
currently undergoing a $10 million redevelopment, and the proposed Gladstone Hotel rebuild, as well as its proximity to the popular Walton Stores precinct would support Tom Collins
into the future, he said.
“It’s a really good opportunity for the astute business owner to pick up and capitalise on a well-trading business,” he said.
“What is going to evolve in this area is going to be a game changer for that Ruthven St precinct.
“It’s a solid business. Obviously it’s trading very well, its got a great
management team in place who are keen to stay and assist the new owner in taking it to the next level.”
Tom Collins was put to market earlier this week, and continues to trade.