FEAST OF MERIT – RICHMOND

Restaurant & Function Venue For Sale

BUSINESS HIGHLIGHTS:

• Unique Restaurant & Function Venue
• Annual sales of $1,490,000 (May 22 – April 23)
• Net profit of $150,000pa – would be much higher for an owner operator
• Currently run Under Full Management
• Excellent fitout with private rooftop bar/stunning function space
• Open 5 dinners & 2 lunches per week
• Fully licensed for 100 patrons until 1am Mon – Sat & 11pm on Sundays
• Easy to operate venue – with good profit margins
• Great corner location on Swan Street in the heart of Richmond
• All equipment owned outright and included in the sale
• Secure long lease (5+5 years) in place until September 2033

In arguably the best corner location on Swan Street you will find this iconic Restaurant & Function Venue – Feast of Merit. This venue has been an institution in Richmond for 10 years. The venue offers two separate and stunning dining spaces, along with function packages to suit a wide range of events including birthdays, hens’ parties, weddings, engagements, corporate events, and product launches. Feast of Merit ceased running as a social enterprise in November 2017, and it has run under full management by an experienced hospitality group ever since.

The award winning fitout has a rustic industrial appeal – think polished concrete floors, exposed brick walls, distressed timber beams and window frames, warm timber & marble furnishings, and bare hanging bulb lighting, which is then given a lush finish with textured cushions on the bench style leather seating and hanging greenery throughout, warming the space and giving it a real urban luxe feel. Fully licensed until 1am for up to 100 patrons over two levels, this venue is well set up to cater for both private functions and large group bookings. The versatility of this space, backed by the philosophy of providing its customers the very best and totally unique dining experience, has made Feast of Merit one of the pioneers across Melbourne’s hospitality space.

Feast of Merit menu has become iconic in Melbourne, serving some of the most delicious Middle Eastern and Southern Mediterranean inspired food and drinks. The venue is also well known for its prominent external street art, created by Dan Wenn, and its beautiful internal garden spaces designed by Jenna Holmes (aka. Plant Mama) both adding to the real street appeal of the venue. Coupled with a private rooftop area that is available for exclusive function use all year round, catering for up to 50 guests. complete with its own fully equipped private bar and bathrooms. The entire rooftop space is all-weather proof with a large, retractable roof that can be opened or closed depending on the weather. The rooftop also has ample heating for winter, and large industrial cooling fans for summer.

The business is well positioned on a prominent corner location on busy Swan Street with maximum exposure and plenty of street parking. The venue is also within walking distance to both Richmond & East Richmond train stations. The business has plenty of upside as it’s only trading 5 nights + 2 lunches a week, so there’s plenty of room for a buyer to increase trading hours if desired. All written systems and procedures are in place which is ideal for an easy handover for the buyer coming into the busy function period ahead. Be quick as the business is priced to move fast. Call Karli to inspect 0409 965 540.