Strip club boss seeks $1.8m for sale of Tipsy Pig
The owner of a glamorous Surfers Paradise strip club is seeking offers of more than $1.8m for the sale of another of his colourful nightlife venues, the Tipsy Pig laneway bar.
Glitter strip entrepreneur Craig Duffy is offloading the 114sq m property where the Steampunk-themed live music venue and restaurant has operated since 2018.
The ground floor offering is located beneath the Hollywood Showgirls nightclub in the strata-titled building at 19 Orchid Avenue.
Mr Duffy retains several other properties in the building and will continue to operate the popular Tipsy Pig live music venue under a 20-year lease from the new owner.
The tenanted investment opportunity is marketed by Harcourts Coastal Commercial agents Lachlan Marshall and Jared Johnson and offers an estimated rental income of $126,787.
Mr Johnson said a flurry of recent inquiry had been fielded from interstate investors impressed with the high-end quality fit-out and proven business chops of the entrepreneurial owner.
“There are very few long-term tenanted investments on the market right now, and this is a 20-year lease with a proven operator, which is probably why we are getting so much inquiry at the moment,” he said.
“We’ve had well over 200 inquiries and a lot of those have come from Sydney and Melbourne which is obviously something we are continuing to experience whenever a quality commercial investment does become available.”
The Tipsy Pig opened in 2018 following a $200,000 fitout by Mr Duffy which included a wall-mounted real pig’s head, imported from the US for around $2,000.
Other quirky décor included an art-piece coffee table with mechanical moving parts, while the upstairs “gentlemen’s club” is decked out with plush armchairs and an internal waterfall.
The property has a capacity of 100 patrons and seating for 60.
The venue was previously marketed for auction but has not been sold.