‘Dame of St Heliers’ seeks new owner
St Heliers, one of Auckland’s more attractive and affluent seaside suburbs, acts as a magnet for visitors due to its beaches, cafes and views of Rangitoto Island, says ABC broker Dale Truong.
“Establishments at the eastern end of Tamaki Dr tend to be tightly held and this is particularly true of Annabelles’ Restaurant, which operates in leased premises in one of the best hospitality sites in Auckland,” says Truong.
“Annabelles is directly across the road from St Heliers Bay beach, with a north-facing outlook, and the morning sun just beams into the restaurant’s double shop-fronts.
“Due to its longevity and leadership in areas of both style and great dining, Annabelles deserves its unofficial title — ‘The Dame of St Heliers’.
“This place has been run by the same owner for the last 20 years — and she now feels that it’s time to hand over the reins. The challenge is to find somebody with energy and multiple hospitality skills to take a famous seaside establishment to new heights,” says Truong.
“With Auckland’s powerful growth projections in both population and tourists numbers — the future of leading seaside dining locations seem assured.”
Truong says the eatery’s sales figures have been steady and strong sales figure over the years, generating a healthy profit for its working owner.
Sales for the year ending 2017 were $1,238,458.00, generating a profit of $169,950.00 (which factors in the working owner’s contribution).
He sees two options for the new owner or owners — carry on with traditions of the St Heliers landmark and thus ride the wave of its success, or re-invigorate Annabelles Restaurant with new ideas and perhaps a makeover.
The establishment makes the most of its location, opening Monday to Friday, from 9am till 10pm, with weekend trading hours (Saturday and Sunday) being 8.30am till 10pm.
● Seating capacity is around 85, with a liquor licence from 8am11:30pm seven-days-a-week.
● The current rental is $14,598 (including GST per-month), the present lease expiring in 2024.
● At present there are six full time staff, plus the one working owner and six part-timers, adds Truong.
“Either stick with a slick operation and earn a healthy income, or utilise a fantastic location and opportunity to stamp your mark with a new concept on this particularly sought-after foodie strip. “It has an asking price of $560,000 (plus stock worth about $10,000).”