Music Bar & British Disco Playa Blanca Traspaso For Sale

Business description

This extremely large karaoke and music bar is being offered for both Traspaso and Freehold sale, the unit totals 280m2 inside and 215m2 terrace area. Situated on the top floor of a well established commercial centre in Playa Blanca, it offers some of the most fantastic views possible in the resort let alone the island. It is operated with a couple and minimal staff (couple operate the bar and DJ booth with night security and guest DJs being the only staffing costs). The bar is operating successfully and is generating a decent cash profit due to the low overheads (a rarity for the size of unit).

The unit is currently operating under a group 3 licence which allows the business to open from 6pm until 4am seven nights a week – the current owners open from 9am until 4am every night. There is a complete up to date DJ and Karaoke system (details below), a lighting rig with extra lighting, 2 large televisions and a big screen with projector. The business is being sold as an existing operation with all equipment included and this allows new owners to take the keys and start generating their own profit from day one, accounts are available.

There are many opportunities due to the size of this unit to create more than one operation in the current position (i.e. day and late bar) or even convert the unit in to retail or a large restaurant.

Property information

Real Estate:

Lease

Lease terms:

This bar is being offered for both leasehold or freehold sale (ask for price of freehold). The new lease terms will be a new 5 year contract with enviable rent for the size of unit!

Location:

The bar is situated on the top floor of a well established commercial centre by the harbour in the resort of Playa Blanca. There is a large captive audience and also great visibility from the town promenade and all new ferry arrivals.

Below is a full 360 photo of inside the bar and also the stunning views from the terrace.

Other information

Expansion potential:

The large terrace area can be covered or even glazed to provide even more floor space for constant trade - not that terraces in Lanzarote can't be used all year anyway!

Competition / Market:

This is the only British owned late licenced disco bar in the resort providing a destination for the large amount of British tourists that come to the resort all year round.

Support & training:

The owners are looking to reduce their working lifestyle and have made a large profit from the business over the years and are now choosing to take life a little easier. They will be willing to provide a full transfer time of 4 weeks and will be on hand to assist well beyond that to new owners.

Reasons for selling:

Taking life a little easier now!

Trading hours:

6pm - 4am

Financing available:

This business is being offered for both leasehold and freehold sale - we would be able to assist anyone interested in purchasing the freehold with financing options up to 60% of the business valuation. New lease owners can expect a new 5 year lease with an enviable rent price for the size of unit.

Furniture / Fixtures value:

€5,000 (included in the asking price)

Inventory / Stock value:

€1,500 (included in the asking price)

Related documents:

• 360 Photo