Property ID : BEACHBARISLAND20
For Sale 1,000,000€ - Beach Bar Restaurant or Business, Investment Proposals
Beach Bar Restaurant for Sale
Short Description about the Business:
The Beach is the most famous in the island and among the best 5 in Greece. The location is one of the most popular in Greece, both to Greeks and to international tourists. It has been a decade that this place is monopoly on the island. there is not serious competition from other beach bars. There are only night bar-clubs in the island.
The last 3 years this beach bar has been rent and constructed from the start from the current owners.
It is highly profitable and this is clearly demonstrated from the official income declarations, the official income statements and the public records.
At the official mixed income of 1.300.000 euro (400.000 – 600.000 euro clean profits before taxes)
The island accepts around 2 million tourists every summer while now that the airport has been privatized and bought from the German company FRAPORT (along with other 15 airports in Greece), it will be renovated and expanded and is expected the visitors to rise more.
The main owner who is the main investor is willing to assist in many ways for the first 1-2 years to the new owners offering his expertise and his knowledge.
The Beach Bar Restaurant consists of the main beach bar with seafront beach
The beach is full of people from early in the morning
Then in the midday many people going up to the restaurant or at the lounge area for a drink and in the afternoon everyone goes up to the open area, the stage and the party starts until 1.00-2.00 after midnight.
The place is the meeting point for all the people in the island.
It can be signed a new rental contract with the new owners of 10 years, and according to the Greek law this can be expanded 4 years more.
The net income is around 55%. So you do understand that the ROI ( Return On Investment) is a very big amount that justify the sale price (up to 50% yield)
The store, the beach bar along with the parking, all the levels (restaurant, cafe, lounge areas) are around 4.000 square meters (not including the beach):
- 110sqm Basement (Storage/s, Offices)
- 110sqm ground floor (kitchen-restaurant, Small Clothes shop, 7 toilets (3 men, 3 women, one disabled)
- Parking-spaces , open air restaurant-bar-all lounge levels of approximately 4.000sq.m
The store is rented from a private person for 100.000 euro per year. From this year and every year, the agreement is to have a increase of 5% at the rent.
The beach is rented from the municipality.
The rental is 21.000€/ year
The bay in-front of the store, serves the cafes and refreshments by producing them from the store (main beach bar restaurant)
Total yearly RENT is: 100.000+ 21.000= 121.000 euro/year
The beach has around 350 sunbeds at the beach in-front of the main store
The lease the beach, until now (is the same in all over Greece, is the Greek law that determines that) is renewed every year. . All the beach bars in Greece are under the same law, every year renew the rent of the beach, from the municipality. The beach cannot be owned by a private person.
1.300.000€ –> 1.150.000€> NEW PRICE 2017 : 1.000.000€