958 - Spectacular Signature Pub in Kensington - $699,000
This stunning gastropub is located in the heart of Kensington, one of Calgary’s trendiest neighbourhoods! This pub has one of the best and largest rooftop patios in the City. Lots of new condos and apartments being built in the area. Population density will be increased dramatically. Very active BRZ with infrastructure plans to make the area even more spectacular in the next few years.
This opportunity will not last long – contact Chris to arrange a showing ASAP!
Gross sales: $900,000 for 6 months ($1.8 projected for the year)
No. of Seats: 190 seats plus 16 seats on street side patio & 124 on roof-top patio
Number of parking stalls: 3 dedicated stalls
Style of cuisine: Gastro Irish Pub food
Customer Demographics: Visitors to trendy Kensington; lots of regulars
Type of service: Table
Hours of operation: 11 am – 1 am; 7 days a week
Number of employees: Approx. 15 now with 30 in summer; 5 – 6 in kitchen and 8 in front of house
Rate per sq. ft.:
Years 1 – 5 is $215,000 per year
Years 6 – 10 is $230,000 per year
Years 11 – 15 is $240,000 per year
Years 15 – 20 is $260,000 per year
C.A.M.: CAM costs paid directly – not through Landlord
Lease Term: 20 years from August 22, 2014
Option Periods: One 5-year option at market rate but not less than $270,000/yr.
Deposit held by Lessor: $0
Financing: Treat as clear title