Waterfront Restaurant & Function Centre

There is no place like Milano's on The Lake. The absolute waterfront position overlooks Lake Macquarie and in particularly the channel where a variety of boating and recreational activity occurs. By night the marina and serenity is breathtaking and the floodlit water comes to life.

The business sale offers the business trading name, website, all forward bookings and deposits held, liquor and entertainment licenses, a huge asset register and full ownership of the function pavilion which hosts weddings and group events and cost around $400k to build.

The business can operate a function in the separate pavilion whilst the a la carte restaurant trades up to an additional 120 covers or more. The restaurant has two open plan dining areas plus a two tier deck overlooking the waters edge.

The 2010 trading year can demonstrate an adjusted Net Profit to the current part time working owner of $227,000. A full time owner/operator can certainly build on that.

This business is not only a very rare find but offers a 46% return on asking price which is because the owner is very keen to retire.