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Located right in the heart of Smith Street in Collingwood, The Noble Experiment is a Melbourne establishment like no other – a relaxed bar and cocktail lounge with two levels of function space all inspired from the boozy drinking dens of the 1920s. Each level can be run independently. The venue has a large, loyal clientele and their reviews have placed the venue as one of the best in Melbourne.
Off Smith Street and the footpath trading (till 1am) for sixteen, patrons head in to the ground floor with dining tables to suit couples and groups and a pool table that seems to be the centre of attention. There is the main bar and to the rear of that a large commercial kitchen. Upstairs is the cocktail lounge with its own bar, toilets and a small secluded section off the main room. Tucked downstairs, The Underground Experiment's basement also makes for an excellent party venue, again with its own bar and toilets. It is a hit for the late night poker tournaments that are held there each week. Throughout the venue is exposed brick, leather couches and interesting finishes such as a fake wallpaper walled library that really show the venue in its best light as it is in excellent condition.
The venue has a late night on premises licence until 3am (including every public holiday eve) with a capacity of 290. Rent for this large three level venue is $3380 a week inc. GST and there are just under 9 years left on the lease made up of 4+5. There is an extensive fixture and fittings list with the value of the goods easily qualifying the purchase price on their own. There is a great team both in the kitchen and front of house that manage much of the venue that are able to remain if required.
The venue suits a hospitality group looking to expand or some seasoned operators that can really capitalise on the multiple revenue streams from each of the different levels. There is a full set of financial information for the venue and so the vendor is looking for a purchase price in the region of $250,000 for this exclusively listed venue. Just drop in for a drink to see the obvious qualities of this venue.