Iconic Wellington restaurant goes on the market

Century 21 New Zealand

Thursday, 26 April 2018

Iconic Wellington restaurant goes on the market

An iconic Italian restaurant owned by a well-known Wellingtonian is on the market, ticking all the boxes as a great business, including strong and stable profitability.

Located at 30 Courtenay Place in central Wellington’s premier hospitality strip, Pizzeria Napoli has built a first-class reputation for its authentic food, friendly atmosphere, and excellent Italian-style service.

“We are really excited to be marketing this business. Everyone knows Pizzeria Napoli on Courtenay Place! Its current owner Raffaele de Gregorio is equally well known being an ex-All Whitesmidfielder and former Wellington football captain,” says Joseph Lupi, owner of Century 21 First Choice Realty.

The restaurant’s compact premises enjoy excellent table turnover as well financial turnover, helped by the fact the business employs well trained, reliable, and established staff.

Mr Lupi says as well as having a great reputation for its woodfire pizzas and delicious pasta dishes, the business has strong books showcasing excellent profit margins.

“Pizzeria Napoli is a busy restaurant and seriously a good business where the next owner could set themselves up for life, achieve a lot of satisfaction, and have some fun along the way.”

He says the restaurant’s next owner could be an owner-operator or form part of a group. He also points out that these kinds of businesses don’t come on the market often, and when they do they don’t stay around for long.

Marketed as having “tidy financials with steady and predictable turnover and exceptional profit margins,” the business has a EBIDTA of $280,000 per annum (excluding owner salaries).

National Manager of Century 21 New Zealand, Geoff Barnett, says the real estate company is proud to be selling the iconic Wellington restaurant.

“Century 21 First Choice Realty in Wellington has been winning many awards lately both here and in Australia. It’s our top office in New Zealand so it’s not surprising they’ve been entrusted to sell Pizzeria Napoli,” says Mr Barnett.

Information pack available on execution of NDA. Deadline for offers: 12 noon on 5 May 2018 at the offices of Century 21, Level 7, 32-34 Kent Tce, Wellington.

To view the listing, visit: http://www.century21.co.nz/property/commercial/buy/nz/60/te-aro/430135

To view the video, visit: https://www.youtube.com/watch?v=i-wFWejDB8w

www.century21.co.nz

ENDS

© Scoop Media