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SELECTION: For sale, Magaluf, Bar/Cafe

Magalluf - Cafe Bar

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Sales Price:
Currency convertor € 14,000
Rental Price:
Currency convertor € 2,800
Transaction:
For Sale/For Rent
Business Type:
Bar/Cafe
Term:
10 Yrs Renewable
Tenure:
Rentals
Area:
Reference No.:
b3167
View:
NA
Location:
Magaluf
Front line:
NA
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Reference No.: b3167
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For the purposes of this calculation we have automatically entered 60% of the purchase price as the loan amount at an interest rate of 3.5% payable over 15 years, but please feel free to change any of the figures according to your needs.

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Property Description

In the same ownership for past ten years this bar has built an excellent, local clientele base of Spanish and British of all ages as well as a steady repeat trade from regular holiday-makers. Last tenants decided to not renew for a further ten years so now available unbelievably as a rental. The winter months the business used to more or less market itself more as a Spanish themed bar as situated directly opposite a winter hotel filling up with Spanish pensioners for the months after Christmas. In the Summer time the business works extremely well as a café bar offering a large British menu, changing to a party pub at the evening. Offering a good 'cafeteria' menu as well as a pub this bar can currently be easily ran by a couple, with some additional evening support in the summer. Current staff include a long standing chef and waitress. The 125m2 terrace is well furnished with tables, chairs and a pool table leading into the comfort of a well appointed and conserved bar. The building is in good working order, with new flooring, electrics and plumbing throughout. Recent years has seen new awnings and blinds to the terraces allowing it to be used in winter with the help of two up right heaters. The bar comes with some furnishings and equipment, to be confirmed in coming weeks. To the rear is ample exterior storage, delivery access and client cloakrooms. Daily takings were reported to average 1,000 euros a day in season and still even reaching 600 euros a day in some of the winter months. Profits should be at least 35%. The previous tenants have now relocated towards Palma with the busniess now available directly with the landlords as a rental. PRICE INCLUDES TWO MONTHS SECURITY DEPOSIT, TWO MONTHS ADVANCE RENT AND CONTRACT FEE.

A previously well known, long established business on a very busy throughfare, this is a popular 'Apres beach' refreshment stop and equally so as a pre-club rendezvous.

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