For the first time since opening its doors in 2015, Newcastle’s iconic MEET Restaurant & Bar is for sale, with an asking price of $725,000[i].

The high performing and stylish venue on the popular Darby Street cafe and restaurant strip in the heart of the CBD offers a rare opportunity to acquire one of Newcastle’s most entrenched hospitality businesses.

The timing of the sale couldn’t be better either as hospitality business owners from Sydney are actively looking to invest in Newcastle venues with solid revenue and strong performance, according to business sales agent Brad Wallace, Managing Director of Raine & Horne Commercial Newcastle.

“We’re seeing Sydney operators wanting to expand into Newcastle,” Brad said.

“They’re looking for venues with strong numbers and MEET ticks those boxes.”

The business boasts impressive annual profits of around $250,000, multiple function spaces, and a 2 AM liquor licence.

“It has a team of 30 staff and experienced management, including two current owners,” Brad added. “This is a turnkey investment opportunity for someone looking to step into a well-oiled operation with strong growth potential — and who may prefer minimal day-to-day involvement. There are two owners currently involved in the business that are potentially open to staying on, which is negotiable.”

Famous for its authentic Brazilian Churrasco experience, MEET has been a cornerstone of Newcastle’s dining scene for over a decade. It attracts a loyal customer base and sets the benchmark for premium hospitality.

This unique hospitality listing received a $100,000 refresh in 2024, ensuring a stylish, modern interior with furniture that is less than 12 months old.

Strong marketing and digital presence

MEET maintains a growing email database of over 30,000 contacts (via a bookings platform), 8,979 Instagram followers and 15,000 Facebook followers, providing a valuable built-in audience for ongoing promotions and customer engagement.

“With a proven concept, strong brand loyalty, and significant growth potential, MEET is an exceptional opportunity for investors or hospitality operators looking to step into a successful, well-established business,” Brad said.

Strong early interest in MEET restaurant sale

Brad said the Newcastle business sales market will be buoyant in 2025 and is already attracting significant interest from Sydney investors.

“We’ve had five or six enquiries about MEET in just the first week, all from Sydney buyers,” he said. “Most are hospitality operators looking to acquire venues with strong incomes and performance to expand into the Newcastle market.”

Brad noted that Sydney business investors and operators are increasingly identifying Newcastle as a growth market. “They recognise Newcastle as a city that’s expanding, with prices still more affordable than Sydney — but we’re catching up,” he said.

Newcastle commercial property attracting investors from Sydney and beyond

Newcastle has come ahead in leaps and bounds in recent years, Brad noted. “Right now, there are four cranes in the skyline — a clear sign of growth and investment.”

According to Brad, the business sales and commercial property markets are also moving in tandem. “We’re seeing strong enquiry for commercial properties, not just from Sydney but other capital city investors too,” he said.

Brad said Newcastle’s brand awareness as an investment destination has grown significantly in the past decade.

“Newcastle is now firmly on the radar,” he said. “It’s the second-largest city in New South Wales and one of the biggest regional cities in Australia. The infrastructure and investment are here, and the city’s profile is growing rapidly.

“Plus, we’re on the doorstep of the world-class Hunter Valley vineyards — and soon, Newcastle Airport will host international flights, which will only add to the appeal of doing business in Newcastle and investing in the city’s commercial real estate.”

Contact Raine & Horne Commercial Newcastle on 02 4949 2300 today to fill out a confidentiality agreement, obtain further information about MEET, and arrange a viewing to see what this business offers.

[i] https://www.rhcommercial.com.au/newcastle/properties/9-darby-street-newcastle-2300-new-south-wales