Hospitality meets history at Cuba St restaurant

ABUSINESS that combines character, cuisine and prospects in a cosmopolitan location is for sale in Te Aro.

Arthur’s, at 272 Cuba St, is a cafe/ restaurant where hospitality meets history in an Edwardian building with a unique ambience.

‘‘This popular eatery epitomises what makes Wellington the ‘coolest little capital in the world’,’’ Neil Forde, of ABC Business, says.

‘‘There’s no shortage of restaurants and cafes in the Cuba Quarter but Arthur’s offers a dining experience that’s as singular as it is intimate.’’

Everything about the business, from its relocated, 122-year-old premises to its decor and menu, have been optimised to whet diners’ appetites, he says.

‘‘Arthur’s character and charm reflects its heritage.

‘‘The building was shifted across the road to make way for the inner-city bypass and while it’s essentially new because of its refurbishment, its period appeal has been preserved with first-floor parlours, antique furniture and ornaments, and colonial art works.’’

Forde points out Arthur’s gentleman’s club atmosphere was designed to complement the owner’s sister business, Martha’s Pantry, a high tea cafe on Cuba St.

‘‘The sales of each business have been kept separate, but the wages and some of the costs have ‘crossed over’ between the two.’’

The cafe/restaurant seats 35 people inside and 12 in the garden courtyard.

The latter is one of four distinct dining areas. On the ground floor are two tables that each seats two people, a reception couch and a craft beer bar while each of the parlours upstairs has four tables (one parlour measures about 12 square metres, the other about 14sqm).

Under a new four-year lease with a four-year right-ofrenewal, annual rent will be $45,000 (plus gst).

Two chefs, two kitchen hands and five part-time staff run the business from about 10am-10pm daily except Monday.

Forde says Arthur’s sales were worth $478,470 in 2014 and $404,964 this year.

‘‘The 2014 results are a truer reflection of what the business can achieve. The vendor acknowledges she wasn’t as focused on the business as she would like to have been this year and is downsizing her business commitments because of a family bereavement.

‘‘If Arthur’s were run to industry standards, then you would reasonably expect a return on capital of 10-15 per cent on turnover plus owner’s working wage.’’

He sees the business as an ideal acquisition for a chef.

‘‘All the fit-out is done, the kitchen is well set up with good preparation space and this uniquely presented business is in a hot entertainment area with good parking.

‘‘This is a fantastic opportunity to take over a business that has shown outstanding results when run efficiently.’’

Arthur’s has an asking price of $100,000 (plus stock of about $4000).