Whangarei's renowned Butter Factory for sale

The Butter Factory, Butter Factory Lane, Whangarei is a popular day and night-time venue.

A business described as Northland's premium live music, events, dining and social venue is on the market for sale — at an asking price of $395,000.
ABC broker Dayne Tomczyk is selling The Butter Factory restaurant-bar and music venue, which operates from leased premises at 8 Butter Factory Lane, in downtown Whangarei.
The Butter Factory — or "Butters" as the locals call it — operates from a building which, as well as formerly producing butter, has housed a furniture factory and shop, cafe and a Swinging Sixties night-spot.
"One way or another this remarkable venue has played a central role in the history of Whangarei," Tomczyk says. However, it's fair to say the place really got placed on the map in 2013, after being established as the present entertainment and hospitality venue.
"Over the past five years it's hosted performances by the likes of Dave Dobbyn, Anika Moa, Holly Smith, Tiki Tane, Elemeno P, The Chills, Che Fu, and many other leading Kiwi music and comedy acts.
"Now my client has decided that it is time to hand over the reins to new owners with fresh ideas."
Tomczyk describes a "perfect location", metres from Farmers department store and offices and shops.
"And staffing is a breeze, with a fulltime functions and events manager booking upcoming acts up to six-months in advance. Key roles of head chef and a front-of-house supervisor are also filled — leaving the owner to oversee the day to day running of the business, which take less than 40 hours-per-week."
Tomczyk lists the key attributes:
● The Courtyard's purpose-built, covered stage and an additional movable marquee make this the ideal spot for large concerts and events, providing the capacity to host hundreds of guests. On some days this allows turnover to reach up to $40,000.
● The Cave is a more intimate space that hosts an assortment of entertainment and functions such as comedy nights, burlesque revues, private parties and dance nights with some of New Zealand's biggest names in electronic music.
● The pub and restaurant are the place to go for all who fancy a first-class cocktail, cold craft beer or wine. There is an eclectic selection of wines from across the country, one of the largest collections of craft beers in Northland and an ever-changing array of styles to choose from.
● "Butters beer club", which is held on the first Wednesday of every month, is a popular beer tasting event.
● A newly renovated commercial kitchen produces hundreds of gourmet burgers, pizzas and bar snacks all day long.
● The cafe is a go-to spot for many Whangarei locals, serving locally roasted Manaia brand coffee; business lunches and takeout.
Tomczyk describes the Butter Factory as an established Northland events icon, as well as a much-loved element of the thriving Whangarei community.
"As people forsake the Auckland rat race and other major cities in search of a simpler lifestyle. Whangarei's slower pace and fantastic climate have really begun to shine as a brighter alternative.
"The city offers a relatively low housing prices, an enviable coastal lifestyle and exciting long-term growth prospects.
"Our owners admit they have neglected to promote lunches and this is a part of the business where new owners could substantially increase revenue. ut it's still early days," Tomczyk points out.
"The Butter Factory is only now beginning to gain traction as one of the best live music venues in New Zealand. What's more, multiple income streams throughout the year make it a solid cash-flow proposition."
Financial Summary
Rent 14 per cent, wages 28 per cent, cost of sales 34 per cent; income for one working owner for the 2018 financial year, $164,000; asking price: $395,000.