Karaoke Bar Puerto Del Carmen Any Deal Taken For Sale

Business description

This manageable sized karaoke bar is situated in a prominent commercial centre in the old town of Puerto Del Carmen. Operating purely as a karaoke bar currently the bar opens from 9pm to 3am six nights a week giving the current owners a small income to keep them living in the sun.

Having owned and run the bar for the past 4 1/2 years it is only at the end of their five year leasehold that they have decided to put the bar up for sale and have recently dropped the price to sell it before the contract is to be renewed. New owners will take the benefit of a brand new five year traspaso on completion of the sale.

The bar has a group 3 (late licence) con musica (with live music permission) this means that the bar can open every evening from 6pm – 3:30am and could even host live music as an alternative offering to the karaoke if this were to be of interest to new owners. Also with a share of a big 3m satellite dish (giving BBC and ITV) there is the possibility to add sports to the current offering, there is a sky box present but the current owners do not use it for anything more than music videos.

Property information

Real Estate:

Lease

Lease terms:

A new five year lease will be given to new tenants when the purchase is completed

Location:

In an established and recently refurbished commercial centre in the old town, Puerto Del Carmen, Lanzarote.

Other information

Support & training:

The current owners are willing to assist new owners in any way they wish.

Reasons for selling:

Coming to end of their 5 year traspaso.

Trading hours:

8pm - 3am

Financing available:

None

Furniture / Fixtures value:

€5,000 (included in the asking price)

Inventory / Stock value:

€500 (included in the asking price)