Vikki Lane business has ‘Victoria vibe’
Round the world media people flock to certain favoured watering holes — typically vibrant places, which generate plenty of energy. They include The Coach and Horses on London’s Greek St; La Closerie des Lilas, on Boulevard du Montparnasse, Paris; and Jimmy's Corner on 44th St, New York.
And in Auckland, ABC Business Sales brokers put Vikki Lane — at 151 Victoria St West — on the list.
Vikki Lane, which is now on the market for sale, is part of the BDO Centre, home to the NZ Herald, Newstalk ZB, Radio Hauraki and other media outlets.
ABC’s Lindsey Holcombe and Brock Sibbick are selling the establishment, they describe as “capturing the Victoria St vibe”, after a decision by the owners to move on.
“Opening on to an intimate arcade, this is a favourite spot for breakfast, lunch, dinner and after-work drinks, and not only for media people,” says Holcombe.
“Monday to Friday from 7am, this five-day-business offers a breakfast lunch and dinner menu — but scope exists for a new owner to also open for weekend trading or private functions. And if you’re on the lookout for a top corporate barrestaurant in the heart of Auckland City, this one really is worth a look.”
She says Vikki Lane has a captive audience of office, corporate and media customers on the doorstep.
The all-day bar and eatery generates annual sales of more than $800,000 (excluding GST).
“There are apartments and a new hotel development in progress close by, which will no doubt increase the popularity of the modern, spacious destination,” she adds. The asking price is $390,000, estimated stock value is $25,000 and the current 10-year-lease has a right of renewal of five years,” says Holcombe.
Sibbick points to a large number of apartments in the area and other near neighbours including the Les Mills Gym, directly opposite in Victoria St.
“But the most crucial element is that Vikki Lane is part of the BDO Centre — the award-winning development whose other tenants include Pernod Ricard, Mersk Shipping and Meredith Connell,” he says.
“Completed in late 2015, this development won the Hays best commercial office project in the NZ Property Council Awards 2016, and then went on to win the coveted overall Supreme Award. The BDO Centre comprises two six-storey commercial office buildings, linked via a fullheight central atrium.”
Vikki Lane Bar & Kitchen can be accessed via the ground floor of the building nearer Victoria St, or from the street itself.
Sibbick considers Vikki Lane perfectly placed to serve the hundreds of workers in the BDO Centre. It is licensed for up to 120 patrons inside and a further 80 in the all-weather covered lane outside; a tavern licence allows alcohol to be served from 8am2am inside and 8am-1am outside.
The kitchen is managed with a head chef, second chef and kitchen hand and additional staff include a duty manager and three wait staff, with wage costs being around 24 per cent.
“Vikki Lane is owned by two industry stalwarts who have brought new life and excitement to this fantastic site,” says Holcombe.
“They are now looking to sell so that they can spend more time enjoying a more relaxed lifestyle.”