Wow! 100 PAX cocktail bar business Royal Palace for sale | central Phnom Penh

Details

In a prime bustling location, 300m from the Royal Palace, this thriving cocktail bar/restaurant business is now available for sale to a keen restaurateur.

It is a turnkey business, readily equipped and stocked with everything a cocktail bar/restaurant owner will need.

The business occupies an entire ground floor space with one direct neighbour (owned by the same landlord) and has a 6m parking space at the front for bikes and plenty of parking space for cars.

The building was renovated at the beginning of the lease (new roof and ceiling, electric system, water system, bathrooms, 15sqm glass wall, painting and decoration, and furniture) and no building or repair works are expected (except regular maintenance).

The venue comfortably seats 56 guests (up to 100 standing) and is divided into 5 areas:

1. External uncovered terrace with 2 tables and 5 seats(6sqm)
2. Covered terrace / live music stage with 3 tables and 21 seats (28sqm)
3. Inside area/bar with custom-made wood, marble bar and reception desk with 5 tables and 30 seats (65sqm):
4. Bathrooms with 2 separate WCs + 1 corridor with sink and mirror (15sqm)
5. Fully equipped commercial kitchen (25sqm) + stockroom (3sqm)

Business areas:

• The outside areas are well-ventilated with wide openings, loads of plants and 3 large wall fans for air
• The inside bar area has a 2m long front desk with an electronic till/ printing station, 2 tablets, and a 7m long bar with ice boxes, 3-tap beer system, bar tools, a smoking gun, a dehydrator,
• The main bar area has a new low-energy A/C unit, a 3-door fridge and the bar is fully stocked with top-shelf spirits and liqueurs, soft drinks, garnishes, (estimated value $2,000).
• The central sound system has 3 subwoofers, 3 smaller speakers, 1 amp, PA, 4 mics, cables and stands for live music and DJs.
• The bathroom area is well separated from the bar with 2 Western-style C.s and a common area with a sink and mirror.
• The kitchen has 2 hood extractors, one main extraction column, 2 x 2 stove gas burners, 2 big fridges, 1 small fridge, 2 chest freezers, one double-sided deep fryer, 5 gas bottles, kitchen electric tools (blenders, juicer, thermometers) 2 cleaning stations with double sinks, shelves, pots, pans, plates, cutlery, boards, trays etc.
• A complete inventory is available on request.

Staffing

The fully trained front-of-house staff may remain with the business and can run the business should a new owner wish.

The kitchen team will have to be restaffed depending on the direction of the new owner, noting that the food and drink menus are sold with the business.

Marketing

This award-winning business is a prominent player in the domestic cocktail industry, first opened in 2019 in Kampot and is often dubbed by guests as the best cocktail and tapas venue in the country.

With a strong, polished online presence, the business has become a trademark in the industry and the existing social media pages will be transferred to new ownership:

• Facebook: 2300 organic followers / 4.5 stars for 50 reviews / monthly coverage: +30,000
• Instagram: 1742 followers
• TikTok page: 100 followers
• Google: 4.9 stars for 58 reviews
• TripAdvisor: 5 stars for 14 reviews

Business model

• This well-loved venue is known for its cozy and quirky vibes on normal evenings, with a weekly mix of live music, DJ Nights fortnightly cocktail Takeovers (Guest shifts) in other venues are also profitable and it will be up to the new management to maintain this.
• The current business model is of a high but casual standard, with Asian/Western fusion, currently only open in evenings but would be equally adaptable to daytime activities such as café, working space, and lunch.
• It benefits from a prime tourist location and gets a steady flow of tourists, mixed with our expat and local
• We see that the business would benefit from a future focus on the local upmarket consumer in recognition of the growing demand for independent high-end, casual venues among the Khmer

Financials and legals

• 4 years remaining on lease ($1000/month) with an option to extend 5+ years at $1200/month (negotiable).
• The sale price includes a $2000$ deposit and the business is free of debt.
• Monthly net income (high season) is $5000 with a daily income of around $400 based on an average basket of $15 X 26 guests/day which is less than half of the venue capacity.
• This can be doubled or tripled by opening during the day and investing more into paid marketing.
• During the rainy season, net income is around $2500/month based on 2023 figures.
• Full accountancy for the last year of operation is available on request.

Original ID: DP5.U10

Does this business interest you?

Does this location or property type interest you?

Please send a message by filling out the contact form below to schedule a FREE viewing.

We also have apartments, condos, office spaces for rent or for sale in Phnom Penh, Siem Reap, Kampot and Sihanoukville.

Riverside: the real central Phnom Penh

Day and night Riverside is busy. It is probably the real downtown Phnom Penh where the oldest parts of the city are located.

I am referring to Wat Phnom, Phsar Chas, Phsar Kandal, Chey Chumneas and Chaktomuk and the Royal Palace and National Museum of course!

Preah Sisowath (honoring King Sisowath 1904 to 1927 reign) is the avenue / boulevard running along the riverfront.

It starts at the Buddhist Institute near Sothearos Boulevard. Then continues north to the Japanese Bridge where it becomes National Road 6 leading north to Battambang.

Generations of days gone by have left their footprints from Angkor kings to French colonists to UN troops.

Riverside witnesses the confluence of the Mekong, Tonle Sap and Bassac rivers and where the Water Festival is best viewed each November. It is always stunning, especially at sunup and sundown.

In Riverside, there is a wide selection of restaurants, wellbeing services, hotels, shops and bars aimed at tourists.

Among the restaurants, you will find good selections – German, Italian, French, Chinese, Korean, Japanese, Vietnamese, Thai, Indonesian and Malaysian.

Reflection on central Phnom Penh’s Riverside

Street 172 is punctuated with $3 massage joints and bars occupied by grey faces framed with light grey hair.

Yet, just around the corner, Street 178 is now arguably the rising art gallery district of Phnom Penh with the University of Fine Arts a stone’s throw away.

This is the dichotomy of Riverside and the attraction of opposites that makes it such an interesting place!

Friends Café has made a bold statement and the Mansion House seems to be waiting for reincarnation.

Now the Hyatt has opened its doors to the Jet set, it may well be a different designer-schmick precinct to what is currently now.

In fact, when you look up along 172, the standard of shophouses is somewhat ‘better’ than in other parts of the city: it could be the rising star of Daun Penh and Riverside.

In the streets around Riverside, there is a sense that there are too many hostess bars, each vying for a shifting slice of the tourist and expat pie.

Rents will rise with the inevitable escalation of land values and the ROI of each vendor’s patch will become more and more critical as the clock ticks.

Looking at Phsar Kandal and the open block where Prey Sar prison once sat, one can’t help but wonder what’s coming next.

Given its proximity to the riverfront and the 172 and 178 ‘sweet spot’, maybe there is something special waiting in the sidelines, something for the inspired new generation of architects and artists.

Contact us

FAQs

About Phnom Penh property

Phnom Penh real estate market