Comprising 10 leasehold businesses (including the iconic Madame Wu and Chu the Phat restaurants), and two Freehold Going Concern Pubs, the Venu Hospitality Fund upon completion will have the benefit of services provided by the business manager inclusive of approximately 360 staff comprising 216 front of house staff, 125 back of house staff and 19 administrative staff.
‘We believe this critical mass, and in particular the ‘back of house’ functions such as accounting, payroll, human resources, recruitment, compliance and marketing services will position the Fund for future growth via economies of scale, enhanced risk management and purchasing power over the short, medium and long term said Stara Managing Director Paul Weightman.
The Venu Hospitality Fund businesses and hotels are projected to collectively serve approximately 1.3 million meals per annum inclusive of 200,000+ steaks, 100,000+ schnitzels, 26,000+ pizzas, 76,000+ banquets and more than 24 tonnes of chips.
Over 2.6 million drinks are projected to be poured inclusive of more than 640,000 schooners of beer and almost 300,000 glasses of wine.
The Venu Hospitality Fund is open to Wholesale Investors only and is targeting a total return per annum of 10% over 7 years.
For more information go to https://stara.net.au/portfolio/venu-hospitality-fund/# .