RENOVATED CAFÉ-BAR TO TRANSFER SEA FRONTLINE- TOP LOCATION 

About the property

RENOVATED CAFÉ-BAR TO TRANSFER
SEA FRONTLINE OLD-TOWN - TOP LOCATION 

Rare opportunity to transfer (traspaso) a 100% functional quality business in excellent location on the main sea-front promenade including 2 street terraces, 1 roof top terrace and 2 superb two-bedrooms apartments !

Bar-Café on AAA seafront pedestrian promenade in Old Town Ibiza. With 3 amazing terraces and 2 two-bedroom apartments. This is one of the rare AAA rated locations, epitomising Ibiza café-bar experience directly on the sea front promenade, in the heart of highly attractive old town walking zone. No cars to disturb your business, this café-bar sits just in front of yachting style and flair.
This is a place of constant high volume public pedestrian traffic. 

Transfer (traspaso) of a Fully Renovated and Licensed functioning business!

Location                      Excellent: directly on Ibiza City´s sea front pedestrian promenade
                                    Real Estate rating: one of the only AAA locations in Ibiza.
 
Surface Interiors         648m² on 4 levels of 162m² each
                                    Ground floor   renovated café-bar
                                    floor +1           WCs and storage
                                    floor +2           renovated apartment with 2 bedrooms
                                    floor +3           renovated apartment with 2 bedrooms
                                   
 
Surface Outdoors       190m² in 3 spaces
                                    ground floor    one Terrace on the front 50m² on Calle Andanes 3
                                    ground floor    one Terrace on the back 40m² on Calle Barcelona 1
                                   floor +4           rooftop Terrace 100m²  with direct lift access

Capacity                     40 tables with 37 high tables with 3 chairs  =  111 guests
                                    6 low seating sofas and poufs                     =    24 guests  Total 135 guests

License Status            Bar in operation, fully renovated 2018, with new licenses approved 2018,
                                    the business has “Cafeteria” and “Bar” licenses, plus 2 street terrace permits.  
                                    The restaurant licence is possible to obtain as the location has the ventilation
                                    extractor, it is located in a zone “touristic”, and it was a restaurant before.  

Profitability                  High margin potential due to the top touristic location.
                                    ROI (Return on Investment) of the Traspaso in 3 years.

Due Diligence                         Documentation and contracts are disclosed in a due diligence process after  
                                    having received a Letter of Intent LOI matching the seller´s exectations.

Revenue                     with 7 months operations mid-April to mid-Nov (closed for 5 months)
                                       in Bar-only mode (no hot food)  €500.000
                                        in Restaurant mode (drinks and hot food) €1.200.000

Transfer Cost             One-time payment at signature of new rental contract of €650.000

Rental Costs               €10.000 per month, €120.000 per year 


Note: the business transfer is made by selling operations and assets. to avoid for the buyer any issue with non-disclosed liabilities the owner does NOT sell the current operating company.

RENTAL CONTRACT

The premises of the café-bar plus 2 apartments plus rooftop are all in one only rental contract directly with the real estate owner.  

The new rental contract can be signed the day of the transfer by the new operator for a period of 10 years plus an option for 5 years.

The monthly rental cost is 10.000€ for 12 months, this means a total yearly rent €120.000. The payments terms of this monthly rent are to be agreed.

The 2 Terrace Permits are delivered by the Municipality of Ibiza at a yearly cost of around €7’000.

The 2 apartments can generate a yearly revenue of 36.000€ (€18.000 each).
So the NET RENT is €84.000

                       
INSIDE

Complete inventory of Café-Bar and 3 terraces with 40 tables with 37 high tables with 3 chairs  =  111 guests, 6 low seating sofas and poufs = 24 guests, in total seating for 135 guests.
5m bar with 4m with beer taps, complete set of glasses, cashier system from 2018, dishwasher, fridges and freezer.

On first floor next to clients WC :  2x 10m2 storage rooms. Could be turned into staff bedrooms.

On floors +2 and +3 there are 2 fully renovated apartments with great view on the yachting marina,  with 2 bedrooms, modern kitchen, living room, Bathrooms. 
                       

OUTSIDE

Complete terrace inventory for ground floor  Front Terrace 50m² on Calle Andanes 3
                                                  ground floor  Back Terrace 40m² on Calle Barcelona 1
                                                  floor +4        Rooftop Terrace 100m² with bar, fridges, beer taps

SUPER LOCATION – IBIZA OLD TOWN

Rating: AAA

The business is on one of the main walking zones of Ibiza, just in front of the luxury Yachting marina in the Old town. With many other restaurants and bars around, this is very lively and popular day and night.

From the front terrace and from the apartments enjoy great views on the Yachting Marine and the many boats mooring. 

From the rooftop direct amazing views to Dalt Villa Castle hill and cathedral. Within walking distance to major attractions, shopping and venues which define the vibrant centre of Ibiza Town.