Lonestar opportunity in Botany
Lonestar Botany, which is described by brokers as the franchise restaurant chain’s No 1 performer in Auckland, is now for sale. ABC business sales broker Mark Ansley says the operation in the Botany Town Centre has been highly profitable.
In the six months to December 31 last year, the 225-seat restaurant made a profit of $183,000, he says.
“This vibrant business, designed by Nott Architects. has racked up 18 months successful trading, capitalising on efficiencies of a highly trained team and a state-of-the-art kitchen.
“It’s a superb business and one all set up for continued growth over many years to come, in my view.”
Ansley points out that being situated in the heart of the Town Centre — just opposite the Hoyts Movie theatre — the eatery has the advantage of servicing a high-growth population, in a catchment including East Tamaki, Flat Bush, Pakuranga, Howick, Beachlands and Maraetai.
“Botany is the main shopping and entertainment hub for this region and is constantly improving; its current $78 million revamp set to be completed by May 2019.
“Major international fashion-retail brands already committed to the town centre are likely to increase activity at what is already New Zealand’s second-largest shopping complex.
“Several special housing areas and future residential growth areas surrounding the centre are being fasttracked for development. So the current redevelopment will cater to the needs of the growing population within the community.
“And according to AMP Capital, the Auckland Unitary plan’s designation of Botany Town Centre as a metropolitan-zoned-hub, is primed to accelerate expansion.”
Ansley says the restaurant’s 10-year-lease has a further right of renewal of five years, while full financial records of the business will be available upon request.