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Bar In Busy Tourist Area For Sale

Albufeira, Faro
Asking Price:
€295,000 Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
€100K - €250K
Cash Flow:
€100K - €250K

This highly successful bar has been under the same management and ownership for 20 years with return clients and all year round business.

It is situated in the prime location of the famous 'Strip' of Albufeira just 800 meters to the beach and within the town, close to all amenities, and is directly across from one of the biggest hotels in the area.

The bar has a licence to trade 10 am until 7 am daily all year round, but currently uses just 11 am until 4 am.

All furnishings and equipment are included in the price. Completely gutted and refitted in 2017 with new bathrooms, bar area, seating booths and decorations.
The bar can be open all year round and has Perspex wind breakers and awning over the outside terrace and heating inside the bar for winter and air conditioning for the long summer season.

It is one of the few bars in the area open 12 months of the year and has continuous trade throughout.

Property information

Real Estate:

Lease

Lease Terms:

The lease is perpetual and comes with a letter of intent from the building's owner.

Leasehold Rent:

€10,800 per annum

Location:

In the prime location of the famous 'Strip' of Albufeira just 800 meters to the beach and within the town, close to all amenities.

Premises Details:

• 28m² bar area
• 44m² outdoor terraces.
• Seating inside for 20 and outside for 24
• Fully fitted bar with 2 x glass fronted 3 door fridges, ice machine and glass washer, sink and extensive shelving plus under floor storage.
• 4 big screen TV's
• 2 x WC's with wash basin. (ladies & gents)
• Air conditioning/heating units
• Alarm
• Satellite system & Wi-Fi
• Stereo music system
• Fire alarm system
• Sound monitor

Size in square feet:
28m² bar area / 44m² outdoor terraces.

Business Operation

Reasons for selling:

After 20 years away from home, we want to move back to be closer to our family.

Trading hours:

openeing hours are 10:00 to 04:00

Employees:
3 year round employees with temporary 1 extra temporary staff mmber needed during the peak summer months.
Years established:
established in 1991, and taken over by the current owner in 1999 until present.

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