Busy Year Round Hostal Restaurant with Acccomodation For Sale

Business description

An opportunity to acquire two businesses in one - a 18 Bedroom Hostal plus a separate Restaurant and Bar with outside Terracing + Owners Accommodation. Commanding corner location to the edge of this popular family resort on the main road near the airport.

The property is detached and comprises:

Hostal:

Benefits from own separate entrance and distributed over two floors. 9 rooms on each floor (4 doubles on suite plus 5 singles). Totaling 8 doubles (many with room for 3 people) and 10 singles.

The rooms at present are rented out on a long term workers basis. Winter contribution of 7,000€ a month (full occupancy) and 10/12,000€ in the Summer. Restaurant is trading winter lunch times only achieving 1,000€ daily. All year round with added evening menu trade throughout the summer.

Restaurant:

On the ground floor is the restaurant and bar, nicely decorated with stone archway, terracotta flooring and benefiting from a traditional welcoming feel. Enormous terracing to the front and side with barbecue, popular for summer dining. Commercial quality kitchen, storage room, washing room, garden & shed.

Option available to sub-let the restaurant to the current owner at 1,500 € / 2,000€ a month.

Owners accommodation:


3 bed owners penthouse apartment + ample terracing all round with pleasant views, ideal for a family or option to rent out separately at 1,000€ pm.

Details:

The business has been trading for over 30 years (present ownership 2 years), There has been some basic re-decorating and new furniture added inside the hostal, the business is operating to a reasonable yet basic ongoing standard.

Overall improvement would be needed should the new owners wish to offer to tourists (cyclists, airport runs and budget accommodation)

Easy walking distance into the resort and beaches.

COMMENT:

The hostal accommodation is fairly basic with simple furnishings but never the less always in demand to singles, couple or families on a budget, and not just tourists either. The restaurant is particularly popular with the local residents including many British ex-pats.

Property information

Real Estate:

Lease

Lease terms:

Type: 18 Bedroom Hostal+ Bar & Restaurant plus 3 Bed Penthouse
Area: Nr Palma
Lease: 10 Years Renewable
Rent: 2,000€ Monthly
(approx £1,400)
Price: 245,000€(approx £171,500)
(1€ / 70p)

Contact the seller