'A loyal following': Civic bar Honkytonks looking for a new owner

Experienced operators understand there’s a magic formula when it comes to getting the equation right in creating a truly successful entertainment and hospitality venue.

Arguably, one such success story is the iconic Honkytonks, right in the city centre with a top Garema Place location. During the day it assumes the guise of a casual Mexican/American eatery. By night it transforms into a lively bar that draws in the party crowd.

The business is now looking for a new owner; someone, Joe Pelle of PRD Nationwide, says is ready to maximise its further potential.

“Honkytonks is really well established with a loyal following; it’s always buzzing,” he says.

“A new owner can stick to what’s become a tried and true formula or, of course, bring their own vision.

“They could further enhance cash flow simply by increasing lunch services and trading seven days.”

Honkytonks offers 164 square metres of internal space including bar and kitchen along with a substantial outdoor area on Garema Place. It’s licensed to hold 200.

“This is a great opportunity for an operator to take this iconic venue to the next level,” Pelle says.

“And the timing couldn’t be better with the city enjoying a revitalisation that includes more residential developments along with hotels and other accommodation options increasing the volume of people traffic – day and night.”

Honkytonks

7 Garema Place, Canberra City

Price guide: $350,000 plus SAV

Agent: PRD Canberra, Joe Pelle 0414 870 000