A Bull Street business is looking for new owner ready to party the night away
One of the only late-night venues inBendigohas hit the market for nearly $1 million. Subscribe now for unlimited access. or signup to continue readingEOFY SAVE 50%All articles from our website& appThe. . .
One of the only late-night venues inBendigohas hit the market for nearly $1 million. Subscribe now for unlimited access. or signup to continue readingEOFY SAVE 50%All articles from our website& appThe digital version ofToday'sPaperCrosswords, Sudoku and TriviaAll otherin your areaThe hunt for a new leaseholder of the Sound Music Bar onBull Streetis underway with the business recently coming up for grabs for $950,000. Business broker Lloyd Nunn said potential buyers would be securing a rare purchase in the Bendigo hospitality landscape. The lease for Sound Music Bar is on the market. Picture supplied. "There is not really a lot of competition in terms of there is only four late night licences in Bendigo," he said. The late-night on-premises licence permits trading until 3am and can host up to 425 patrons at any one time. Sound Music Bar opened in June 2024, replacing the former Tonic Bar. 'Investment returned in three years'Mr Nunn said the business was ready to either be run through the existing staff at the venue or as an owner-operated club. "If any investor wants to take on the business, [the existing leaseholder has] got excellent return on investment," he said. "You're looking [to] have your investment normally paid off within three years which is outstanding. ""What you're taking over is the brand, all the fittings, the future bookings, the lease, the liquor licence and the ability to trade. "Mr Nunn was frank about how the hunt for a new leaseholder may take some time given the asking price. "With banks not financing licensed premises . . . whoever buys it is going to have to have the cash on hand," he said. The venue comprises two floors, the ground floor being a cocktail bar with a nightclub on the first floor. The lease has eight years remaining on it. As it happensBreaking news alertBe the first to know when news breaks.