Entrepreneurs / Small Business  March 26, 2015

Kathmandu Restaurant owner pays $3.5M for Boulder Golden Lotus

BOULDER – The owner of the Kathmandu Restaurant in Nederland plans to open a second location in Boulder after purchasing the former Golden Lotus Chinese restaurant at 1964 28th St. for $3.5 million.

Resham Gurung, under the entity Nepal Two LLC, bought the restaurant from longtime owners Steve and Victoria Chen, according to Boulder County property records.

The Chens couldn’t immediately be reached Thursday, but Gurung said in a phone interview that they sold the restaurant so they could retire. Property records show that the Chens bought the property for $850,000 in 1995. The three-quarter-acre parcel sits in front of Target and next to the Wells Fargo bank at the northeast corner of Walnut and 28th streets.

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Gurung said Golden Lotus closed recently and that she plans to open the second Kathmandu, which specializes in Nepalese and Indian food, in about three weeks. Signs announcing that Kathmandu was “Coming Soon” adorned the front of the building Thursday.

Gurung opened the original Kathmandu in Nederland 16 years ago and quickly gained a loyal following before moving to its current location at 110 N. Jefferson St.

Gurung said the 3,600-square-foot restaurant does about $50,000 in sales per month. She’s hoping the new Boulder location, which is 4,700 square feet, will double that sales mark by itself.

“We hope we can do well,” Gurung said. “I’m nervous though.”

Gurung said the Boulder restaurant will operate under the same business model, including a lunch buffet, and likely be open from 11 a.m. to 9:30 p.m. She said she’s having some light remodeling done but nothing major as far as renovations.

Gurung said it’s possible that she would hire some of the former Golden Lotus employees.

BOULDER – The owner of the Kathmandu Restaurant in Nederland plans to open a second location in Boulder after purchasing the former Golden Lotus Chinese restaurant at 1964 28th St. for $3.5 million.

Resham Gurung, under the entity Nepal Two LLC, bought the restaurant from longtime owners Steve and Victoria Chen, according to Boulder County property records.

The Chens couldn’t immediately be reached Thursday, but Gurung said in a phone interview that they sold the restaurant so they could retire. Property records show that the Chens bought the property for $850,000 in 1995. The three-quarter-acre parcel sits in front of Target and…

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