RESTAURANT & SPORTS-BAR IN NICOSIA
| Business Type: |
Restaurant
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| Location: |
Nicosia Centre, Nicosia, CYPRUS
|
| Type of Tenure: |
Leasehold |
| Business Reference: |
CY0336L |
| Asking Price: |
€ 295.000 |
| Annual Turnover |
360.000 |
| Gross Profit Margin |
65% |
| Monthly Rent |
1.963 |
| EBITDA Margin |
N/A |
| Stocks (at cost) |
10.000 - 15.000 |
| Reason for Sale |
Family Obligations |
| Accounts Available |
2018 |
| Years Established |
3 |
| Incorporated Business |
Limited Co |
| Relocatable Business |
Νο |
| Car Parking |
17 (private car park) |
| Vendor Financing |
Negotiable |
| Full-time Employees |
6 |
| Part-time/Seasonal Employees |
8 |
| Internal Area |
115 sq.m. |
| Internal Seating |
30 + 20 at the Bar |
| Terrace Area |
200 sq.m. |
| Terrace Seating |
190 |
| Mezzanine Area |
95 sq.m. |
| Mezzanine Seating |
n/a |
| Plot Area |
550 sq.m. |
| Basement Area |
n/a |
Description
This large and versatile food & beverage business is located on a busy commercial avenue, well known in Nicosia for shopping, restaurants, cafes and entertainment venues. It is also very near the University of Nicosia with over 14.000 students, while the surrounding area is densely built with residences and offices.
The business is multi-functional and operates from 6:45 in the morning until after midnight, offering something different to various types of clients, all hours of the day:
- Cafeteria in the morning and afternoon,
- quick lunch & snacks at lunch-time,
- sports-bar/pub in late afternoon/evening,
- pub-lounge bar,
- dinner restaurant in the evening.
The varied clientele is also attracted by special events, such as backgammon & card games tournaments, special ladies’ nights with make-up exhibitions & fashion shows, magician shows, guest DJ nights and live music at least once a week.
The business occupies a large, detached building with an adjacent private parking plot for 17 cars, although there is also plenty of free parking on the street. Total capacity is 200 persons seated, not counting bar seating. Most of the seating areas have retractable aluminum roofs which are opened on summer nights, while some areas are air-conditioned. There are large TV screens and speakers everywhere and a centrally controlled sound system.
The premises are large enough to offer each type of client the ambience they want, whether it’s a football crowd at the bar, or a family having a quiet dinner on the other side of the building. Therefore, clientele consists of families, students, sports fans. The business also accommodates corporate functions in a specially appointed room and the rear terrace, such as presentations of new products or services. The business also accommodates private parties and christenings.
Accommodation: Upstairs there are four bedrooms and two full bathrooms which can be used for accommodation, either by the owners or for staff.
The building has all the necessary Building & Town Planning permits while the business is licensed as a Class B Restaurant.
- This profitable business is offered for sale at an attractive Price, due to the owner’s commitments with several other business activities.
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