"We felt there was a gap in the market on Eat Streat, something that's really slick and stylish, somewhere you can show off to your friends and get dressed up for pre- or post-dinner drinks.
"We're not going to do a lot of food, there are already some fantastic restaurants on Eat Streat, but we've done our homework and really think it will work."
He said work would start in January and he hoped to be open by early March.
"The Rotorua Lakes Council has put in a huge amount of effort to make a funky modern precinct in Rotorua to rival the big cities and we should all be rightfully proud of it.
"Eat Streat is at the very start of its life and Ponsonby Rd will definitely add value."
Mr Coffey said they'd received some great advice from friends in the hospitality business.
"We have a really good friend who has owned 30-plus bars around the country, one of his places is Shanghai Lil's in Ponsonby.
"We want to have a similar theme, but with chandeliers and a baby grand [piano] with lush dark tones inside - a real lounge bar that will do high teas in the day time and champagne and cocktails at night with some great live jazz music."
The pair will be spending time in Auckland over summer honing their bar and hospitality skills so they can hit the ground running when they open.
"It's really exciting and something we have always wanted to do. Post-election we said 'let's do it', so here we are," Mr Coffey said. NZME.
