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When selling a business, timing and preparation are everything. Businesses that are systemised and have transparent financials often generate better results.
Sum Yung Guys Serving up at Sunshine Beach
MasterChef Australia’s 2016 runner up Matt Sinclair and his business partners have opened a new restaurant Sum Yung Guys in the middle of the popular bar and café precinct at Sunshine Beach on the Sunshine Coast.
Sum Yung Guys recently launched in the 219 sqm first floor premises at 8/46 Duke Street, Sunshine Beach, following a leasing deal negotiated by Ray White Commercial Noosa & Sunshine Coast North’s David Brinkley and Paul Butler.
David Brinkley said he initially met with Mr Sinclair and business partner Michael ‘Moe’ Rickard in July last as they were eager to set up the new venture in the Noosa Heads/ Noosaville area.
“Unfortunately, none of the first few sites we went through were quite right for them so they decided to wait until the right option came up and they continued trading down at “Eat Street” in Brisbane for the next couple of months while we kept in contact,” he said.
“They later decided they would look at the 46 Duke St, Sunshine Beach, restaurant site. They both loved the potential and it was one of the larger sized spaces we had inspected.
“Over the following weeks I met with the rest of the Sum Yung Guys team, Dylan and Jeremiah, who were both just as motivated as Matt and Moe… as well as family members and friends who all fell in love with the space and provided their thoughts and creative ideas.
“We negotiated for several weeks, fine tuning the lease until both sides were happy to proceed and within 10 minutes of the lessor signing off on the lease the Sum Yung Guys team were collecting keys and straight into the tenancy starting the fit-out.”
The menu style at Sum Yung Guys is modern Asian with massive influences from South East Asia. The restaurant has a capacity of 90 diners and will also cater for functions.
Sum Yung Guys has taken out a five-year lease at net rent of $55,000 per annum.
When selling a business, timing and preparation are everything. Businesses that are systemised and have transparent financials often generate better results.
Being deeply embedded in the Sunshine Coast community provides Commercial Property Consultant Alanna Shapland with a rare level of insight and relatability.