Gip’s Restaurant opened in 1999 with one room and a small Marquee outside directly in front. The business has now grown to multiple Marquee areas and a Function room inside Clifford House catering for any types of function and with over $450,000 worth of bookings as of November 2011 with deposits collected and bookings confirmed this business is a success story.

The Lease is a 5 + 5 year lease with CPI increases for only 5 years and the rent is $75,000* per annum + GST, this includes Gip’s Restaurant, Function Centre and office. The tenants have common use areas which include the whole of the garden plus entrance to Clifford House and use of 5 toilets within the building along with 4 reverse cycle air conditioners and these are all cleaned and maintained by the landlords and there are separate Restaurant toilets. The landlords are responsible for the outgoings and the general maintenance of the external of the buildings; there are 8 easily accessible car parks specifically for Gip’s Restaurant Customers and many more car parks around Clifford house within short walking distance.

All council approvals have been gained for marquees to be erected onsite for functions. Plant and equipment value is said to be $650,000* all of which is owned, $250,000* of which has been spent on renovating and furnishing the James Taylor Room and the installation of another kitchen and bar adjoining this room.

Gip’s Restaurant has its own Website and database with 2,500* members all receiving newsletters, birthday greetings and special events reminders all sent automatically via email.

The owners of this excellent business are non-workers and therefore could be an opportunity to increase the turnover and profits for the owners that would work the business themselves, along with opening earlier, maybe opening Sundays for jazz brunches, breakfasts and also opening public holidays. There are also great opportunities for catering externally as the owners have been approached many times to do this but have not taken up the opportunity. Jon and Julanne have other business interests and would like to spend more time with their children and grandchildren. Opening Hours are Monday Friday 9am till late, Saturday 11am till late.

Business
$920,000.00 + S.A.V.

*approx.