Property Details

245 and 245A Moorabool Street GEELONG VIC 3220

Property ID : 19924916

For Sale $475,000 - Apartment

El Toro Pizza & Restaurant – Dine-In & Take away (Fully Licensed)

El Toro Italian Restaurant – Pizza & Pasta – Dine-In & Take away (Fully Licensed)
245 and 245A Moorabool St, Geelong VIC 3220

Rare opportunity to purchase a fully established family owned authentic Italian restaurant.

El Toro Pizza Geelong was established in 1974 and is one of Geelong’s oldest and most successful Italian Restaurants.

Catering for both a sit-down restaurant experience as well as a bistro/take away area, El Toro can seat a total of 150 people.

Two adjoining properties on separate titles and opened into one – long lease can be negotiated with first right of refusal and/or option to purchase both freeholds, can be included in the lease as part of the purchase – rent can be negotiated around $60,000 per annum.

Current takings approx. $17,000 per week – a hot operator could increase this to $20,000 per week or $1 Million cash in hand, turnover per annum

Prime location in the Business Centre and benefiting from spectators going to and returning home from the Geelong Football Ground and the Geelong Performing Arts Centre.

Only minutes’ drive to/from Melbourne’s major freeways and arterials
• Only 5 minutes’ walk to various train lines and buses
• A short walk to Eastern Beach

Facilities include:

– Prime location in the Geelong CBD just up from GMHBA stadium.

– Separate Restaurant Area with a seating capacity of approximately 85 people

– Bistro/Take away area with seating capacity of approximately 65 people.

– Fully equipped commercial kitchen.

– Rent is $60-$70k p.a. plus outgoings (negotiable) with a flexible lease available.

– Fully licensed (including BYO).

List of Plant & Equipment and Fittings is available upon request.

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