Jump to content

      



























Photo

Food services comings and goings in Victoria


  • Please log in to reply
9637 replies to this topic

#9201 magmazing

magmazing
  • Member
  • 167 posts

Posted 05 October 2024 - 10:01 PM

Central bar, 100 occupants and a concrete floor?

The concrete floor makes me think it’s a new or somewhat new space. Could it be that shot restaurant? I do not know if they’re liquor primary there.

 

Is it The Mint? They recently applied to change their liquor licence to allow for customer participation for the shows they have in their side room. Wouldn't call their kitchen all that spacious though. 



#9202 Mike K.

Mike K.
  • Administrator
  • 90,737 posts

Posted 06 October 2024 - 07:03 AM

Right, very tight kitchen.

$100k means it’s likely not a popular space. If it were a popular restaurant it would be selling for 10x profits, plus the assets, plus goodwill. A decent internal refit would be valued at at least $200-$300k.

Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#9203 UDeMan

UDeMan
  • Member
  • 828 posts

Posted 06 October 2024 - 11:51 AM

Some new restaurants opening up at Royal Oak Shopping Centre.

Gyrosa Greek food
Niloo Persian food

A Noodle box opened up earlier in the summer.

Royal Oak has become a restaurant hub in recent years.
  • lanforod and Victoria Watcher like this

#9204 Matt R.

Matt R.

    Randy Diamond

  • Member
  • 10,037 posts

Posted 06 October 2024 - 12:54 PM

Right, very tight kitchen.

$100k means it’s likely not a popular space. If it were a popular restaurant it would be selling for 10x profits, plus the assets, plus goodwill. A decent internal refit would be valued at at least $200-$300k.


3x profits maybe, not 10. Are there other businesses that sell for 10x? 3x profit plus inventory feels much more normal for this industry.
  • Victoria Watcher likes this

#9205 Mike K.

Mike K.
  • Administrator
  • 90,737 posts

Posted 06 October 2024 - 02:59 PM

Yup. Absolutely. 10x profit all day long. I didn’t realize a restaurant was that low. Crazy.

Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#9206 Matt R.

Matt R.

    Randy Diamond

  • Member
  • 10,037 posts

Posted 06 October 2024 - 03:47 PM

Definitely not 10x I’m very sorry to say. A business selling for $500k only makes $50k a year? Who would buy that.

#9207 Victoria Watcher

Victoria Watcher

    Old White Man On A Canadian Island

  • Member
  • 65,439 posts

Posted 06 October 2024 - 11:42 PM

Have no fear, solo dining is here and it's big in Victoria

 

 

B.C.'s capital is the top destination for solo dining and travel in Canada
 
 
 
 
 
While travelling solo is not uncommon, dining solo in public is still one of those things most people fear. There’s even a word for it: solomangarephobia.
 
__________________________________
 
“It's one of the standout dining trends this year and we expect it to continue into the next year, with 73 per cent of Canadians planning to dine solo in the next 12 months,” Matt Davis, OpenTable Canada country director, said.

Edited by Victoria Watcher, 06 October 2024 - 11:43 PM.


#9208 Mike K.

Mike K.
  • Administrator
  • 90,737 posts

Posted 07 October 2024 - 06:18 AM

I had no idea people fear it. And now we query this for surveys?

I guess we attract a lot of people who don’t have friends to travel with, for whatever reason. What would be behind that?

Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#9209 Mike K.

Mike K.
  • Administrator
  • 90,737 posts

Posted 07 October 2024 - 07:42 PM

Matt sent this my way. Soupa has been around since the completion of this tower, no? 1998 or 1999?

How many square feet do you think that space is? $1450+GST plus NNN costs.

IMG_6726.jpeg

Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#9210 Matt R.

Matt R.

    Randy Diamond

  • Member
  • 10,037 posts

Posted 07 October 2024 - 10:05 PM

800? Doesn’t look like much but could be a hell of an operation with good walk by traffic.

#9211 Mike K.

Mike K.
  • Administrator
  • 90,737 posts

Posted 08 October 2024 - 06:02 AM

Unless the have a lot of storage, I’d say 400 max for the operation. Then there’s the dining space they use.

Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#9212 Victoria Watcher

Victoria Watcher

    Old White Man On A Canadian Island

  • Member
  • 65,439 posts

Posted 09 October 2024 - 07:48 AM

https://x.com/wallst...VEUJpeFjILnnozg


If you click that link it animates the graphic. Interesting.

Attached Images

  • IMG_4868.jpeg

Edited by Victoria Watcher, 09 October 2024 - 07:49 AM.

  • Matt R. likes this

#9213 Victoria Watcher

Victoria Watcher

    Old White Man On A Canadian Island

  • Member
  • 65,439 posts

Posted 09 October 2024 - 07:51 AM

IMG_4869.jpeg IMG_4869.jpeg

#9214 Victoria Watcher

Victoria Watcher

    Old White Man On A Canadian Island

  • Member
  • 65,439 posts

Posted 10 October 2024 - 01:53 PM

Gorge/Tillicum area:

 

 

Excellent opportunity to own a vibrant restaurant, with liquor license, strategically located for maximum exposure in West Saanich. With a strong and loyal customer base, this turnkey business offers a rare chance to step into a thriving enterprise with the potential for future growth. The commercial kitchen features newer equipment, ensuring efficiency and quality in every dish. This, combined with the location that ensures a steady stream of customers, drawn in by the authentic Mediterranean cuisine and warm hospitality have become their trademarks. For those on the go, there is an established takeout and delivery service offering a convenient way to enjoy delicious meals from the comfort of home. Contact us today for more information. 

 

$450,000

 

https://www.realtor....d-saanich-gorge



#9215 Matt R.

Matt R.

    Randy Diamond

  • Member
  • 10,037 posts

Posted 10 October 2024 - 03:21 PM

West Saanich? Gorge?  Which is it?  



#9216 Victoria Watcher

Victoria Watcher

    Old White Man On A Canadian Island

  • Member
  • 65,439 posts

Posted 10 October 2024 - 03:34 PM

West Saanich? Gorge?  Which is it?  

 

The "west (side of) Saanich", and in this case also near Gorge/Tillicum.

 

rural-saanichMap copy.jpg


Edited by Victoria Watcher, 10 October 2024 - 03:36 PM.


#9217 Mike K.

Mike K.
  • Administrator
  • 90,737 posts

Posted 10 October 2024 - 03:35 PM

It's the Greek restaurant on Gorge at Tillicum.


  • Victoria Watcher likes this

Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#9218 Matt R.

Matt R.

    Randy Diamond

  • Member
  • 10,037 posts

Posted 10 October 2024 - 07:44 PM

Ohhhh West saanich not saanich west. I get it. :banana:

When I see “west saanich” I sure don’t think of the gorge. Maybe just me?

Edited by Matt R., 10 October 2024 - 07:45 PM.

  • lanforod and Victoria Watcher like this

#9219 Victoria Watcher

Victoria Watcher

    Old White Man On A Canadian Island

  • Member
  • 65,439 posts

Posted 10 October 2024 - 09:13 PM

Well, that's the thing about Saanich though, right?


West Saanich Road. Starts in Saanich and passes through two other Saanichs.
East Saanich Road. Not in Saanich.
Central Saanich Road. Not in Saanich.
Saanich Road. Only in Saanich.


North Saanich municipality.
Central Saanich municipality.
Saanich municipality.

Saanich Peninsula - geography.
Little Saanich Mountain.



Poor old south left out of the game. Although Saanich South is a provincial riding.

Edited by Victoria Watcher, 10 October 2024 - 09:22 PM.

  • Matt R. likes this

#9220 Mike K.

Mike K.
  • Administrator
  • 90,737 posts

Posted 10 October 2024 - 09:17 PM

The West Saanich designation is meant to throw you off, I guess.

The price started at well over $1 million two years ago.

Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


You're not quite at the end of this discussion topic!

Use the page links at the lower-left to go to the next page to read additional posts.
 



2 user(s) are reading this topic

0 members, 2 guests, 0 anonymous users