Bar for sale, La Zenia, Spain.
Brexit beating opportunity on the Costa Blanca.
I wrote this reply to a client asking about the Quiet Man bar which we have for sale in the famous La Zenia village, 150 meters to the La Zenia Beach and La Zenia Hotel.
I decided rather than replying to each enquiry individually, it may be easier to just post a long reply here so we did. I changed a few details, for Data Protection purposes.
If you are interested in viewing this property (especially if Brexit talk has you thinking you need to create a new life for yourself on the Costa Blanca, Spain, just a few minutes’ walk to the beautiful La Zenia beach) please call Tracie on 0034 966773453 or email on [email protected] and she will be delighted to help you.
PS. one thing I forgot to mention to John in the email below was the proximity to La Zenia Hotel. It does really well for Golf groups especially in off peak months. There is a real opportunity there for a well-run bar close to the hotel. For example, the hotel bar does not show sports!!! It’s on the same side of the road as the Hotel so surely, the hotel guests would be a source of punters for the pub?
property id 3679
http://www.comaskey.com/beachside-la-zenia-4821.html
could you please mail on to me more information on this bar.
what would be the purchase taxes
are there any other costs like monthly rents to be paid.
yearly taxes
turn over
kind regards,
john
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Hello John,
Thanks for getting in touch.
It has been a busy week with so many British people looking to get to Spain and start a business- The Brexit has really been an own goal as far as we can see- Could be good news for Spain though.
This La Zenia bar is one of the most interesting opportunities we have for sale right now. Its listed as you can see at 100,000 Euro. The total cost, buying the property freehold, licence application in place*, including furniture, fixtures and fittings, AC (this alone cost ten thousand euro, it’s one of those system build into the ceiling), legal and tax work, will be 110,000 Euro- keys in your hand.
You will have no rent to pay, naturally but you’ll have to pay community fees, SUMA tax to the Orihuela Costa Town Hall and normal expenses, electricity, water, that sort of thing. Community and Suma, I don’t have the exact figures here, but it’s not much- maybe allow 1,000 euro per year. (Please don’t quote me on that, but it will not be a lot higher or lower either way).
The bar came from a town on the Galway/Roscommon border and was shipped over piece by piece. It’s such an attractive unit, shame that it never took off. The reason was it never has had a decent shot- the tenants who have been in there over the years just did not have the right mentality for running Bars-That’s all I should say about that; you can read between the lines.
The Empty unit cost 250,000 without any of the work done to it back in 2008- I guess in total now its standing the owners 500,000 Euro. They don’t want to rent anymore as we have not had much success finding them trustworthy tenants so it’s a real fire sale now. As I said, it’s an opportunity but with all the British people looking at shifting their money while they still can, it will (hopefully) be sold soon.
If you like any more details, just get in touch. I can do a small video of the pub too if that might help you make a decision.
Are you familiar with La Zenia? I have lived here since 2002. Paddy’s Point is the main bar in the whole Costa Blanca Region, you would not be competing with them however, The Quiet Man, is really suited as a nice one-man operation. It has near neighbours, The Cambridge pub is a Spanish/English bar and does very well. Next door is Al and Benny’s American diner and down the road in Miriam in the Indian Restaurant.
Once again if I can help with anything, please let me know.
IF you got here right now, you’d still get the summer trade out of the bar!!! Plus, September and October were the busiest months of the year last year.
I have no Turnover figures for when the tenants were here but I think last September, the t.o. was in the region of 20,000 Euro- not bad for off peak months!
There is room to develop the business too- Ice Creams for the family coming back off the La Zenia beach, take away sandwiches and buckets of cold beers for people going the other direction- on the way to the beach!
Hope I covered all you need here and hope to see you in Spain soon,
Kind wishes,
Ian
*We actually “sold” the pub back in November last year to Belgian clients but the guy pulled out as he did not understand the licence application procedure here in Spain. We assured him that the Spanish Solutions architect had presented the project at Orihuela Costa and all was totally fine, but we just didn’t have the full stamped licence in our hands yet. It can take years, but is almost ready. You should get independent advice before you sign anything of course, but bottom line, the application has been presented to the town hall and they have no objections- the full licence will be in place with a couple of months, but right now we are totally 100% legally allowed to trade. It’s the same situation for all of the bars and restaurants down there in La Zenia Village- All licences will be included in the deal.
