'Top Coast venue' hits the market
IT'S not a struggle they're going through, but a successful reinvention.
The owners and staff at Riverside Sports Bar & Restaurant and Level 2 Nightclub are not struggling, as reported in the Daily on Thursday.
The venue hosts popular pizzeria Zachary's, which is doing a roaring trade, and Riverside is also trading profitably.
While the site has hosted failed businesses prior to their ownership, the Daily has learned current owners have turned it around.
Its success is thanks in part to anticipation of Sunshine Plaza's $400 million redevelopment, which is already bringing increased foot traffic, PRD Nationwide Commercial's Chris Cameron said.
Riverside's owners have made a profitable trade since taking over the venue, formerly occupied by Factory: The Project until the business collapsed in 2015.
"The Riverside has been trading profitable and in and upward position, meaning the business is growing," Mr Cameron said.
"The success is due to a casual (and) fun product and good prices. The business appeals to a broad market."
Renovations at the venue, which is now for sale, have totalled $600,000-$700,000, and a fresh approach is drawing customers to both its bar, eatery and beer garden and upstairs Level 2 Nightclub, he said.
"The site's an extremely exciting site because of its position and size," he said. "This is the best positioned on-premise hotel on the Coast."
Mr Cameron manages commercial hospitality sales across the Sunshine Coast and said since it was listed two weeks ago there had been a lot of interest.
"It's probably a stand-out hospitality opportunity for the Sunshine Coast," he said.
"It's a big venue - 946 metres, two levels."
"I've got quite a lot of hospitality assets on the Sunshine Coast for sale, and I think that's because it's a dynamic time to sell your business."
The waterfront venue's hotel licence opened opportunities for gaming and even an off-premise bottle shop or shops.
"More importantly it's got a major footprint of traffic there," he said. "It's in a perfect position.
"It's got one of the only beer gardens on the Coast, and a late night licence.
"It just needs someone to take it to the next level or create a collaboration among businesses (to do that)."