Description:
This recently renovated Italian cuisine restaurant is situated on a busy part of the seafront promenade in Costa Teguise. Featuring as a selection of 4 restaurants complementing each other as a place to dine in the day or throughout the evening.
The restaurant has an excellent established reputation not only for eating in but also for their great take-away pizzas. The restaurant features as one of the 5 restaurants recommended in the inflight magazine with Easyjet and this alone brings in large numbers of tourists every month and especially during the peaks of the seasons.
The restaurant is open fronted and starts with a half-covered outside terrace area overlooking the Atlantic Ocean and goes through to the bar and pizza chefs area (which is a feature as part of the restaurant to watch the pizzas being made fresh). The decor is authentic as the current owner is Italian and is constantly being maintained as the owner strongly believes that the image is as important as the food (both are excellent).
Freehold available for 450.000 Euros
Asking Price:
EUR €135,000.00
Our Ref:
BFL100
Terms of Sale:
Assets Only
Revenue (Income):
EUR €240,000.00
Net Profit (Cash Flow):
EUR €60,000.00
Time Established:
8
No. of Employees:
3
Competition/Market:
Three other restaurants in the area which appear to compliment each other
Trading Hours:
12am - 2am
Reason for Sale:
Health Reasons
Owner Financing:
No
Value of Fixtures/Fittings:
EUR €100,000.00
Value of Stock/Inventory:
EUR €2,500.00
Website:
Property Type:
Leasehold
Lease Terms:
5 years renewable
Leasehold Rent:
2500
Location:
Located just outside the centre of the resort this restaurant has unspoilt views of the sea, and is located close by to a number of hotel and apartment complexes, and only 30 seconds walk to the beach
Premises Details:
The restaurant is open fronted and starts with a half-covered outside terrace area overlooking the Atlantic Ocean and goes through to the bar and pizza chefs area (which is a feature as part of the restaurant to watch the pizzas being made fresh). The decor is authentic as the current owner is Italian and is constantly being maintained as the owner strongly believes that the image is as important as the food (both are excellent).
Size (Sq meters or feet):
110 sq meters