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SELECTION: For sale, Palma, Palma City, Restaurant

Charming Freehold Restaurant in Popular Palma Area

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Sales Price:
Currency convertor € 300,000
Rental Price:
Currency convertor € 0
Transaction:
For Sale/For Rent
Business Type:
Restaurant
Term:
0
Tenure:
Freehold
Area:
Palma
Reference No.:
b3497a
View:
NA
Location:
Palma City
Front line:
NA
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Reference No.: b3497a
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Property Description

The premises are well situated in the middle of the bustling La Lonja area and have been lovingly renovated and decorated in a typically Spanish style, with a modern twist.  The air-conditioned interior is around 90m2 in size with the ability to seat 40 patrons and is set out in two areas, with a stone archway connecting each area.  The ceiling is beamed and the terracotta flooring runs throughout.  The walls are painted in a warm cream colour and the back wall has a stone wall feature which justs adds to the overall atmosphere.  There is a wooden well-equipped bar and behind this, is the kitchen with a complete range of equipment, including grills, friers, oven, stainless steel hot and cold storage cupboards, fridge/freezers etc.  There are male and female washrooms cunningly concealed to the front of the restaurant.
The current tenants run this together as a Tapas Bar and Restaurant and offer a 'Menu de Degustacion'.  At present, they open every day (except Tuesday) for evening trade only, although they do open for lunches in the busy summer season.  Their clientele is international with a busy summer tourist trade and a loyal local following in the winter months.  With no work to be done to the premises and eleven years left on the lease, this is ideal for an investor who requires an instant return on his investment.  The current monthly rental income is 1,100 Euros.
COMMENT:  This property is in a perfect location and with all the renovation work being carried out in the area, will only increase in value, so this is an ideal time to be buying a piece of this trendy and progressive real estate area.

This is an exciting opportunity to purchase the Freehold  of what is currently run as a warm, welcoming and established Restaurant in the La Lonja area.  The business currently has a tenant in place, so income is guaranteed from day one.

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