Market Byte – Café/Restaurants

Driven by Australians desire for dining out and sophisticated coffee culture, the restaurant/café sector had been trending positively until the onset of COVID-19. According to ABS data, revenue significantly decreased by approximately 50% through the first quarter of 2020. This was due to government enforced mandates forcing all non-essential businesses to temporarily close and workers to remain at home. However, as restrictions eased, businesses were able to reopen allowing consumers to return. The below graph highlights how sector revenue gradually returned to pre-pandemic levels by the end of 2021 driven by easing restrictions, the desire to ‘socialise’ with friends and family and the rise in discretionary household income.

Café, Restaurants and Takeaway Food Services

ABS, Retail Trade, Australia November 2021

Below is a snapshot of recent city fringe restaurant and café Leasing transactions:

McGees Property specialises in market value assessments for acquisitions, disposals, financial reporting, SMSF audit and decision making purposes. Should you need any valuation services, please contact Scott Campbell 0403 165 355 or Owen Thorn 0405 415 645.

This Article is for general information only and should not be relied on as advice. You should consider your personal situation and seek advice that is specific to your circumstances before making any decisions based on this information. Liability limited by a scheme approved under Professional Standards Legislation.

Enquiry Form