Hog Heaven may answer restauranteur’s prayer
The Hog Heaven Louisiana Smokehouse Restaurant and Bar at 60 Broadway, Newmarket.
The popular Hog Heaven Louisiana Smokehouse Restaurant and Bar, situated in a fast developing business location at 60 Broadway in Newmarket, is for sale by negotiation for an asking price of around $190,000.
“Hog Heaven would be ideal for a working couple with few part time staff,” says Billy Chan of Ray White Broadway, who is marketing the going concern business for sale within leased premises.
“Bob Appleton, the owner and an experienced American chef, is retiring, and has put his well-established hospitality business up for sale. Hog Heaven Louisiana Smokehouse was born from his love for good barbecued meals and friendly ‘southern’ service. Bob fell in love with new Orleans cuisine which he serves his customers within a Southern States ambience combined with great drinks and blues background music and videos.”
Chan says the 201sq m restaurant, which is currently earning about $40,000 per month, had an extensive fit out and makeover about three years ago and seats 106 people in total.
“The main dining area has seven large, eight-seat, high-quality wooden tables and the bar can seat eight people. Outside pavement tables provide seating for a further 12 patrons.
“About three years ago, Mr Appleton spent nearly half a million dollars on the restaurant and bar fitting and equipment - along with sparing no expense on the fit out of his well-designed kitchen.
“He purchased most of his equipment from new, including high-quality brands like a Carter double door refrigerator, Skope double door refrigerator, Garland Star Fire Sentry six-burner gas cooker and oven, and a Gam double decker electric pizza oven. The 1170mm stainless steel bench with hand wash station and M2 dishwasher meet council hygiene requirements.”
Chan says a lot more kitchen equipment is included in the sale which is all in good working orders.
Hog Heaven’s restaurant had an extensive interior fit out about three years ago.
“Hog Heaven has been priced to sell quickly and at below replacement cost,” he says. “It has a neighbourhood atmosphere where patrons can pop in, watch music videos at the bar or order online and take away meals to their homes or offices. It has a party menu designed for the likes of birthday celebrations, weddings, blind date evenings and staff work functions.”
The restaurant has three individual toilet facilities including one for disabled clients and a specially designed fire escape exit door.
“Mr Appleton has a good business relationship with his suppliers, like Dominion Breweries, Coca Cola, Sky Television, Contact Energy, XCR [Eftpos] and Spark telephone and Wi-Fi systems,” says Chan. “They are all contracted and keen to continue to provide their service to the next owner.”
The business, which operates seven days a week from 11am till late, currently pays annual rent of $70,000 on its six-year lease commencing October 2010, which has two rights of renewal of three years each giving a final expiry of September 30, 2022.
Chan says location is critical for any hospitality business and Hog Heaven is ideally situated in Broadway, Newmarket, close to two cinemas, an Olympic swimming pool and gym and two Wilson car parks.
The business area is expanding rapidly with The Warehouse planning its huge new Arcadia retail complex at 66-80 Broadway on a 1.4ha site and encompassing a 40-room hotel, 160-unit apartment complex and parking for 720 vehicles. The University of Auckland is also building its big Newmarket campus on the 5.2ha former Lion Breweries site.
“Broadway is a place for a business to be in very near future,” Chan says. “The town centre is already well supported by residents in the nearby affluent suburbs of Parnell, Remuera, Grafton, Epsom and Mt Eden.”
He says statistic show there are over 30,000 business locations in Newmarket and nearby suburbs - with a mix of professional, retail as well as financial and insurance-based companies.
“It’s the home of top brand national and international fashion retailers like Stolen Girlfriend's Club, Country Road, Witchery, French Connection and Adidas. Large Australian brands that have stores in the precinct include Gorman, Nicola Waite, Hugo Boss and Alannah Hill.
"Well-known large corporates also have their bases in Newmarket including Scentre Group, Griffins, Tegel NZ, Arnott's Vector, Watercare, 2degrees, Fidelity Life and Roche.”