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Description:As stated on the previous page this is a 1-off opportunity. This Beautiful Bar / Restaurant is a favourite for both tourists and local residents. It's Spacious Inside & TWIN Terrace allows for a choice of seating arrangements. Now trading for 15 years under the present ownership. It's a steal with not one but THREE take over options !!.
The present owners originally took a lease on the business back in 1986. They were so delighted with the restaurant that, only two years later, in 1988, they decided to buy it.
After a succesful 13 years they have now decided to retire, hence the sale.
The business enjoys year-round trade due to it's popularity with both tourists and residents alike. Although the area at one point was predominantly German, in the last few years there has been a gradual conversion to British clientele. There are at least three nearby hotels, previously dedicated to German clients that this year have been commisioned by British tour operators which means that this bar / restaurant is now surrounded by british holiday makers. Frankly, with being one of the few opportunities in this area that can change with the times, now is the time to "Get in there first".
The business is situated bang in the middle of a newly precincted tourist area in Cala Millor, Only 50 mtrs from the beach. There are several large hotels surrounding this area and holiday apartments behind the restaurant with the entrance right next door.
Some important points to note:
1. The business is paid for. No debts remain.
2. Everything you see in the bar is included. Right down to
the tablecloths and teaspoons!
3. The premises have all inspections & certificates in order
& UP TO DATE! (fire, pest, hygiene, gas, etc)
4. The present owners will help you get started and live 5
minutes away for enquiries or difficulties that you
may encounter.
The restaurant is fully licensed and can, in accordance with Spanish law, open up to 22 hours out of 24. Trading hours are completely flexible within this period.
As the restaurant is a freehold business, there are no ties with anybody, eg. Breweries / beer companies. You can buy what you want from who you want.
Seating / Capacity;
Inside = 10 tables of various sizes providing 48 seats.
Terrace 1 = 6 tables for 4 (24 seats)
1 tables for 8
(32 seats)
Terrace 2 = 2 tables for 6/8 (14 seats)
4 tables for 4 (16 seats)
Total Capacity = 110 seats.
Finance details: (Euros)
Average gross income = 185,000 € p/year
Three take over options;
1. Freehold Purchase - You buy the business outright. Everything is yours, including the premises & no rent to pay. Price = 360,000 €.
2. Lease Purchase - Try before you buy. Lease the business for 5 years with a view to buying at the end of the lease.
Price = 110,000 € to buy the lease.
Rent = 2,500 € p/month.
Bank security required = 30,000 €.
Purchase price after 5 years = 250,000 €. (this is 360,000 € sale price minus your original lease of 110,000 €)
3. Lease.
You buy the lease (resellable) for 5 years (renewable).
Price = 110,000 € to buy the lease.
Rent = 2,500 € p/month.
Bank security required = 30,000 €.
Extra costs:
Stock to value at transfer time = 5,000 to 10,000 € negotiable
| Statistics:Ref: CM-05
Price: See left |
