Iconic Canberra CBD venues Wilma and The Pearl are up for sale

Investors with deep pockets and an eye for numbers might like to cast their eyes over the key metrics around this significant city-based bar and restaurant.

Wilma and The Pearl was launched in 2021 after an earlier incarnation as Kokomo’s and this iconic CBD venue is now looking for its next owner.

The multilevel venue offers bars, dining, event spaces and private rooms along with management offices and storage.

Here are some numbers that might dazzle an investor: a $5 million fitout over nearly 700 square metres and a venue licensed to hold 510 patrons with a liquor licence that allows daily operation between 7am and 4am.

And the big income numbers: a 2023 turnover of about $4.3 million with a gross profit of more than $3 million. Investors can also factor in income lease terms of about $31,000 per month, including GST and outgoings.

Frank Walmsley of Capital Commercial Business Sales says the venue is an opportunity to infuse fresh energy and a new identity into this popular bar and restaurant.

“There’s an opportunity for a hospitality leader with vision to take the business to the next level and build on its proven appeal,” he says.

Wilma has appeared in Australia’s “best new restaurant” listing in the Sydney Morning Herald and has been rated among Australia’s top 80 restaurants by Gourmet Traveller.

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