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Queen Street Rescue was created just over eight years ago and as the name suggests was the starting point to rescuing this area of Queen Street in the CBD.
Since then the area has gone from strength to strength. The Adina Hotel, which the venue sublets from, has a very high occupancy rate and the room service requests down to the venue generate half the venue's income. The other half coming in from the many office based locals that use the venue as their favourite after work location for drinks and functions plus a casual lunchtime meeting point.
At the front of the venue there is footpath trading for ten. Still outside but underneath the protection of the hotel there is booth seating for the smokers which is well protected from the Melbourne weather. Heading inside the restaurant has a rustic, weathered look about it, from the shabby chic wall panels in white, baby green and lilac hues to the long timber tables with their bucolic-style wooden chairs. It is all open plan with the bar in one corner facing the patrons as they head in to the venue and the large well equipped commercial kitchen to the rear of the venue.
Internal doors lead directly in to the hotel lobby, inviting any guest to visit the Queen Street Rescue as the first stop in Melbourne. The venue has just undergone a complete refurbishment inside as part of the lease with the hotel about to refurbish the front of the venue.
The Queen Street rescue has an on premises licence until 1am with a capacity of 129. It also has a limited licence until 11pm allowing it to supply and deliver alcohol. The latter being greatly used by the hotel residents. There are eight years left on the lease made up of 3+5 with another term negotiable upon transfer. Rent including GST and outgoings comes in at $2800 a week. All fixtures and fittings are included in the sale.
The venue suits an experienced operator who can maintain it but also expand the services to the hotel and capitalise on the CBD delivery scene. The venue takes an average of over $25000 a week and is undergoing a refurbishement as part of the lease terms and these costs are included in the sale price.
The usual financials are available but are typically hospitality. Therefore the owners who have other business interests are looking for offers only in the region of $75,000 (price reduction) for this exclusively listed venue.