UNDER OFFER - The Palm Royale - A Little Piece of Cuba in Richmond - 1P4929 868
It feels like a little piece of Cuba at The Palm Royale located right in the heart of bustling Richmond just off the corner of Church and Swan Street. It is a vibrant and colourful place that invites you to a tropical party regardless of what Melbourne's weather can throw at you.
There's an outdoor area at the front of the venue designed in the style of a typical Cuban garden, which also doubles as a smoking room so you can suck down a genuine Cuban cigar between drinks. Inside the bar is on the left that looks out over the bar floor and up in to the lounge area. Fake palm trees act as table legs and grow upwards to the ceiling with couples sitting under them silhouetted by drop-lights beneath the plastic foliage with bronze mirrors and architectural flourishes like the wood-panelled ceiling.
Follow Flamingo Alley down to the washrooms. It's not normal that the latter are mentioned but they have to be seen. Past them is a small commercial kitchen that leads out in to a warehouse support area. The cool room and a lot of racking and storage is here, accessed by a large roller shutter door from Dickmann Street.
The Palm Royale has an On Premises licence until 1am with a capacity of 85. The council has just amended the planning permit to allow trading till 3am. The new owner just needs to complete a variation with VCGLR. Rent comes in at only $1000 a week including GST and there are twelve years left on the lease made up of 2+5+5. The venue is in excellent condition with all fixtures and fittings included in the sale and there being no equipment lease or supplier contracts in place.
The venue is currently run under management but really needs an owner operator to give the venue the daily focus that it needs. The infrastructure is all in place, low over heads, fantastic social media presence and a great team in at the venue. This means that whoever does take over can concentrate on taking the venue to the next level rather than starting from scratch. There is a good set of financial information with the vendors looking for offers in the region of $150,000 (Price Reduction) for this exclusively listed venue.
- Address: 438 Church Street
- Area: VIC - Melbourne
- City: Richmond
- Country: Australia
- Zipcode: 3121