Restaurant In Palma Paseo Maritimo For Sale

Business description

Comments:
A spacious restaurant with terrace on Palma's fabulous waterfront. The restaurant is themed on an American diner and is bright and airy with new quality furnishing and a full scale commercial kitchen. This presents a magnificent opportunity for any experienced or aspiring chef to gain a major foothold on the island and with the right style of menu should be a true money spinner.

Current Operation:
This attractive restaurant has recently undergone a total rewire and substantial refurbishment. The restaurant occupies an enviable position directly underneath a large residential apartment block and opposite the main ferry and cruise liner terminal on Palma’s bustling waterfront. The business is open all day throught the year and the theme is essentially of an American “chill out” diner as is reflected in the menu which also specialises in home baked cakes and pies. The premises have a large covered front terrace that can easily seat up to 70 people with ceiling mounted fans providing a gentle breeze in the summer months. Recently installed double glazed windows can slide open to look onto the terrace and a double door entrance leads into the modern looking restaurant that is decorated in lemon, blue and terracotta with new multi-coloured down lights lighting the bar and dining area. Inside there is seating for 50 or so people on bar stools and metal framed chairs. There are two dining levels the smaller upper area currently used as a waiting area and furnished with two new 3 seat sofas. Also to be found in the dining room is an upright chilled display cabinet and to one side a doorway that leads to two fully tiled public washrooms and a storeroom with fitted shelving. The small bar has a tiled facia and a solid wood top. Equipment includes a bottle cooler, beer dispensing equipment, coffee machine with grinder, electronic cash register, a chilled display cabinet and a music system. A doorway behind the bar leads into the well planned kitchen with its separate washing up area where there is also a bottle cooler. Kitchen equipment includes a four burner stove with oven, griddle, extraction system, two fryers, two microwaves, mini grill, bain marie, toaster, domestic freezer, chest freezer, upright fridge/freezer, stainless steel fridge and hand wash sink.

Notes:
Any experienced or aspiring chef would love to own and work in this restaurant, creating their own menus and building up a reputation. The business can be run by a couple or a small family preferably with some knowledge of the catering industry and with the right handling could become a veritable goldmine.

Premises Dimensions:
Inside: 112 Sq. metres
Outside: 42 Sq. metres

Finance:
We are reliably informed that this business is the only one along this road, that stretches for some 3 kilometres, where the rent includes the front terrace, as opposed to a separate terrace tax being payable. This means that the rent, although not insignificant is comparable to most other businesses in a similar location and of a similar size in the area. Saying that, the asking price is most reasonable considering the amount of money has been invested in the business.

Rent:
£1,495 per month

Asking Price:
€158625

Property information

Real Estate:

Lease

Location:

The business is located on the Palma’s bustling waterfront overlooking the main ferry and cruise ship terminals and one of the biggest international marinas in the Mediterranean. Two residential apartment blocks are above the premises and there are several hotels in the near vicinity to the business. Two minutes away is a large shopping complex with cinemas and free parking and the multitude of historic tourist attractions in central Palma are easily reached by a short bus ride.

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