Bars served On the Rocks and In the City

The 623 bar and cafe are hot social spots in Nelson and among the city's busiest gaming venues. Photo / Supplied

Two of Nelson's most successful cafe and bar businesses, 623 On the Rocks and 623 In the City, are featured for sale in the latest issue of Colliers International's National Portfolio, along with the 623 brand.

Described as "prime multi-million turnover businesses", the duo is being marketed by Colliers' Nelson brokers Raj Singh and Geoff Faulkner for sale by deadline private treaty, with offers closing on Friday, September 10.

"With all the hard work done, this hugely successful brand is ripe for a new owner who can carry on with the vision," says Singh.

"Both bars offer food and drink from early in the morning until last thing at night in funky, contemporary surroundings. With 18 gaming machines in each bar, outdoor seating and two of the hottest locations in Nelson, the 623 bars are a unique opportunity to invest in a ready-made hospitality success story."

Singh says 623 owner and creator Mike Curry hit upon a "winning combination" with his flair for creating an exceptional brand and ensuring everyone coming through the doors feels welcome. "Four years on from the opening of 623 On the Rocks, Curry has decided that it is time to move on and try something new."

Faulkner says the turnover of each of the businesses exceeds $2 million per annum and that their proven revenue growth is set to continue.

"What we have here are two premier locations, an established, known and trusted brand, thousands of members in a loyalty club and solid gaming machine revenue underpinning the lease rate."

Faulkner believes established individual bar owners or hospitality organisations will figure prominently among the potential buyers.

"Business people looking for an attractive business proposition with chance to move to sunny Nelson will find this offer a highly attractive prospect."

Curry opened 623 On the Rocks at the busy Tahunanui Beach area of Nelson in 2006. Following its success, he leased the former Public Trust building on Hardy St, in the centre of the city, and 623 In the City joined the brand in November last year.

Singh says the bars have been designed to give a New York feel.

"The brick bars, straight lines and square corners that give a very modern, yet classic feel. Both bars have extensive outdoor seating, easy parking and a gaming room - with 623 in the City now one of Nelson's busiest gaming venues."

The businesses have lengthy leases in place. The 623 In the City outlet started a three-year lease in August 2003 that, with both of its six-year rights of renewal exercised, will see final expiry in June 2018. The Tahunanui Beach 623 On the Rocks commenced a five-year lease in March 2007. With two seven-year rights of renewal in place, final expiry is set for February 28, 2026.

The bars have a number of beers on tap including specially brewed DB beers 623 Classic Ale, 623 Pilsner and 623 Lager. The bars have their own labelled pinot noir and sauvignon blanc wines, which are bottled by Brightwater Vineyard.

Singh says 623 On the Rocks has a ready-made customer base with 42 apartments above the premises. The bar now also offers executive suite accommodation, overlooking the beach, for visitors to Nelson. In addition, over 26,000 cars pass by the premises every day each way.

"The 623 In the City business also is ideally located," says Singh. "It is in the heart of the city's retail district, opposite Fashion Island and next to a large car park."

The business feature an all-day brunch and live entertainment every Thursday, Friday and Saturday nights.

Curry, a former flight attendant with Air New Zealand, said he wanted to create something different when he opened the Tahunanui cafe/bar but he was "blown away" by its success.

Curry puts the popularity of the 623s down to their decor, having quality food on offer all day long, loyal and friendly staff and regular promotions to members of the 623 internet-based club. "I feel comfortable that the 623 brand is solid enough now that I can let it go," says Curry.