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Highly Successful Bar In Albufeira For Sale

Albufeira, Faro
Asking Price:
€275,000 Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
€100K - €250K
Cash Flow:
€100K - €250K

This highly successful and long established bar has been successfully trading with the same owner for 20 years with return clientele and families.

Situated in the of the heart of the famous 'Strip' of Albufeira, one of the busiest tourist areas in the Algarve, just 800 meters to the beach and within the town, close to all amenities, with ever increasing foot traffic on a soon to be fully pedestrianised main street.

The bar has a licence to trade 10 am until 4 am daily all year round, with permission to operate until 7 am for special occasions.

All furnishings, equipment and stock at date of take over, are included in the price. Completely refurbished in 2017 with new bathrooms, bar area, seating booths, furnishings and decorations, as well as new fridges and stock area underneath the serving area.

The bar is currently open all year round and has Perspex wind breakers and awning over the outside terraces as well as heating inside the bar and outside heaters for the terrace for winter and air conditioning for the long summer season.

The business consists of:

• 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 systems & Wi-Fi
• Stereo music system
• Fire alarm system
• Sound monitor
• Security system
• Fully compliant health and safety certificate

Property Information

Real Estate:

Lease

Lease Terms:

The lease has in perpetuaty with no end date to the contract. the monthlu rent is €900/month with an annual increase based on inflation.

Leasehold Rent:

€10,800 per annum

Location:

The bar is located in the heart of the famous Strip, one of the bussiest tourist destinations in the Algarve, with access to public transportastion near by, 800 meters from the beach and directly in front of one the largest hotels in the Algarve,

Business Operation

Expansion Potential:

Their is potential for expansion due to adjoining shop spaces becomming available.

Reasons for selling:

Our reason for selling is for family issues. After being away from Canada for 20 years, we want to take our children to be closer to our family and specifically, ailing parents.

Trading hours:

Open from 10 am untill 4am 7 days a week, 365 days a year.

Employees:
3 full time employees
Years established:
The bussieness was originally opened as BJ's bar in 1991 and has been under the current ownership and management, as BJ's Canadian bar since March of 1999.

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