Rare opportunity for tavern acquisition
THE owner of Burleigh Heads’ The Cove Tavern & Restaurant is cutting ties with the business and property after a decade of ownership.
BM Nominees Pty Ltd, linked to Judith Marer and Laszlo Marer, bought the property at 107 West Burleigh Rd for $5.725 million in 2008.
Located on a 2675sq m block, the three-tenancy 1015 sq m building includes the tavern, Freedom Float Therapy and Wellness Centre and Newab Indian restaurant.
The latter businesses are on long-term leases. The tavern property and business can be bought together or separately with a long-term lease for the tavern on offer to the purchaser.
Cushman & Wakefield’s Chris Bouwer, who is marketing the property with colleague Geoff Sinclair, said the sale offered an opportunity for an experienced hospitality operator to buy a business and property at the same time.
“We expect this property to garner significant attention and offers from prospective buyers due to the strong business and tenant said.
The 630sq m tavern includes a sports bar, licence for 20 gaming machines, alfresco dining area, family restaurant and commercial kitchen.
It offers the owner a net annual income of approximately $400,000 fully leased.
Geoff Sharpe developed the tavern in 2002.
The Cove Tavern & Restaurant operates seven days. The property is a five-minute walk from Stockland Burleigh Heads Shopping Centre. profile,” he