Frank’s Eatery & Go, Queenstown
Information Memorandum
Businesses For Sale
Offers by Deadline Date 14th November 2023 (unless sold prior)
Accelerating success.
Introduction
Colliers have been exclusively appointed to market Frank’s Eatery & Go, businesses for sale.
Colliers have been exclusively appointed to market EATERY BY FRANK’S LIMITED and FRANK’S & GO TAKEAWAY LIMITED (T/A Franks Eatery & Go) for Sale.
These businesses are being offered For Sale by Deadline Date 14th November 2023 (unless sold prior). This Information Memorandum provides preliminary information to assist interested parties with their assessment of the business. Further information is available on request.
All enquiries, request for information and arrangements to undertake inspections in relation to this opportunity are to be directed to the sole agent: Sharee Aitken +64 220 100 801 sharee.aitken@colliers.com
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FRANK’S EATERY & GO Executive Summary 5 Location 6 Lease Information 8 Sales Revenue 10 Due Diligence 11 Contents 3
Vendor Frank’s Hospitality Group Limited
Address Shop 6 & 7, 24 Hawthorne Drive, Frankton, Queenstown
Tenure Leasehold (lease over freehold property)
NZBN
9429046661234
• Eatery 2023 - $1,937,461.00
Franks Hospitality Group presents an exciting new opportunity for owneroperators to acquire one of Queenstown’s most successful food & beverage operations.
Total sales*
• Go 2023 $429,305.00
Hours of Operation Frank’s Eatery - Open 7 days 7am - 4pm Go by Frank’s - Open 7 days 3pm - 9pm
Lease details
$206,631.84 + GST across two businesses
Note
Full trading financials are available on signing of a confidentiality agreement
With a strong reputation throughout the region, Franks Hospitality Group has a retail presence in multiple locations including Queenstown CBD, Frankton, and Lake Hayes Estate. *
Executive Summary
the
the
Estimate of
sales for
coming year.
Location
Frank’s Eatery & Go is well loved within the hospitality scene in Queenstown and has developed a strong customer base from the locals, business visitors, and the tourism market. Frank’s Eatery is an ethical, family-run café located in Frankton on the ground floor of the Ramada Hotel complex. Together with an adjoining business directly next door, Go by Frank’s, the dual operations provide all day dining and takeaway services.
Frank’s Eatery & Go have a prominent north facing position within the Ramada Hotel to Hawthorne Drive, with a public car park at its doorstep. The Ramada is centrally positioned to popular activity zones, including the Sports & Leisure centre and the Queenstown Market on Red Oaks Drive. The Frank’s businesses are also surrounded by multiple accommodation providers including the Ramada Suites, Holiday Inn, Wyndham Gardens, and Quest. Remarkables Park Shopping Centre and the Queenstown Airport are positioned approximately 500 metres to the west, and Wakatipu High School to the east. Construction on a new Hyatt Hotel has begun on a neighbouring site alongside the much-anticipated Queenstown Convention Centre.
The business location is highly convenient for locals, visitors, and tourists to access and benefits from excellent exposure to passing traffic on Hawthorne Drive, which is the main road connecting Glenda Drive to State Highway 6.
FRANK’S EATERY & GO
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location indicative only
Leases Business Address Net Rental p.a. (excl. GST) Commencement Date Term Frank’s Eatery Unit 7, 24 Hawthorne Drive $156,548.04 15 May 2018 Seven (7) years Go by Frank’s Unit 6, 24 Hawthorne Drive $50,083.85 11 April 2018 (Assigned) Eight (8) years 8
Initial Expiry Rights of Renewal Final Expiry Rent Review Notes 1 July 2025
rights of renewal (4 yrs each) 30 June
rent
on Renewal 30 Sept 2024
of
yrs
30
Two
2037 Subject to annual CPI rent reviews Market
review
Two rights
renewal (4
each)
Sept 2032
rental
Subject to annual CPI rent reviews Market rent review on Renewal No
reviews undertaken thus far
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Due Diligence
To assist in the assessment of this offering, comprehensive due diligence information is available. For access to all documents please register your interest with the sole agent.
A full set of financial accounts is available on signing of a confidentiality agreement.
All enquiries, requests for information and arrangements for site inspections are to be directed to the Colliers sole agent:
Sharee Aitken
+64 220 100 801
sharee.aitken@colliers.com
FRANK’S EATERY & GO
INFORMATION MEMORANDUM For Sale by Deadline Date 14th November 2023 (unless sold prior)
Sharee Aitken Colliers Queenstown +64 220 100 801 sharee.aitken@colliers.com
DISCLAIMER: This Information Memorandum has been prepared solely for information purposes in order to assist interested parties in making an initial evaluation of the property and does not constitute advice nor purport to contain all of the information that a prospective purchaser may require. In all cases interested parties must conduct their own investigation and analysis of the property and the data set out in this Information Memorandum to satisfy themselves in all respects and not rely on the information in this Information Memorandum to make their purchasing decision. This Information Memorandum has been prepared in good faith and with due care by Colliers, but neither Colliers nor the Vendor accept responsibility hereunder for the accuracy of any part of the information contained in this Information Memorandum. Therefore the recipient/s of this Information Memorandum to the extent that they rely on the information contained herein do so entirely at their own risk. The Vendor and Colliers NZ Limited (and its brokers) expressly disclaim all liability for representations, express or implied, contained in, or for omissions from, this Information Memorandum or any other written or oral communication given to any prospective purchaser in the course of their evaluation and/or offer. This Information Memorandum does not constitute an offer for sale or purchase or otherwise.
Accelerating success.
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