A seaside favourite serving tourists and locals for more than 15 years has saved $500,000 with Bartercard on a recent $3 million renovation.
Bartercard has played a key role in the multi-million dollar renovation of an iconic restaurant and takeaway location on the waterfront of one of Western Australia's premier tourist destinations.
The $3 million dollar refurbishment of the Equinox included $500,000 in interest-free trade dollars funding the main builder, Big Ben Builders and nearly all sub-contractors using Bartercard?
Bartercard's extended line of credit gave owners Peter Gordon and Dave Ebert the financial confidence for the significant spend, and enabled them to realise the potential of their unique north-facing prime real estate position, overlooking the famous Busselton Jetty.
The Equinox development boasts a fully refurbished, expanded 200 seat restaurant, an all-year-round alfresco dining and beer garden among the fig trees, a second commercial kitchen servicing a takeaway area, and has become the biggest building project funded by Bartercard in the South West.
The level of investment enabled the owners to incorporate unique features and design a modern restaurant to cater for the ever-increasing number of visitors coming to experience the seaside city and the iconic Busselton Jetty, the second most visited tourist attraction in WA. Historic timber was sourced from the recent restoration of the 150 year old Busselton Jetty, so a core part of Busselton’s history could be incorporated into the design of The Equinox.
Testing the waters with Stilts
Peter and Dave have been members of Bartercard for 14 years and a year ago entered their first partnership build using trade dollars with the refurbishment of their Stilts Restaurant at the nearby Broadwater Beach Resort.
“We put our toe in the water with Stilts and the refurbishment was a great success with a number of local tradies coming on board with Bartercard so the next obvious step was to use trade dollars with the Equinox refurbishment,” said Peter.
Gaining a return on investment with Bartercard
Peter said there’s a good mix of tourists and locals who use Bartercard seven days a week, so he knows he will easily get the trade dollars he spends back in sales.
“Tourists come to town, jump on the Bartercard app to see where they can eat and both of our venues top the list, meaning we have a steady flow of Bartercard customers. While we took a big element of risk with a multi-million dollar refurbishment on leasehold land, it was made easier with a T$250,000 credit increase. The ongoing help from the local office, sourcing contractors and trades for the construction, made it all possible. Without Bartercard’s interest-free line of credit, we couldn’t have funded this project due to being on leasehold land.”
Overlooking the white sand beach, Equinox is a hot spot for relaxing lunches within Busselton’s vibrant tourist strip. The venue fills out at sunset, and beach-lovers can pick up a hearty burger or a seafood basket to go.
Equinox is open seven days for breakfast lunch and dinner, serving modern Australian and some Asian-inspired dishes.
Visit theequinox.com.au or drop in next time you are taking a break or travelling to SW WA.