Commercial property in Mogán, Puerto Rico, for rent

Live music bar and restaurant for sale in Puerto Rico – with a loyal customer base spanning 15 years.

Prime Properties GC presents an opportunity to take over a piano bar and restaurant in the Puerto Rico Shopping Centre on Gran Canaria.

With a loyal customer base built up over the last 15 years, a combination of music, drinks and food, and high visibility on social media, a new owner will have a strong foundation on which to continue and develop the business.

This is a ‘traspaso’: the takeover of business operations and tenancy rights, not the purchase of the properties.

What do you get? Piano bar, restaurant, 210 m² spread across three rooms, 70 m² terrace, indoor seating for 210 people, outdoor seating for 120 people

A full takeover therefore comprises 210 m² of indoor space, a 70 m² terrace and a total licensed capacity of 330 guests.

The live music bar and restaurant offer guests the chance to enjoy a full evening of dinner, drinks and music, whilst generating cross-selling opportunities between the businesses.

How much does the takeover cost?

The live music bar alone: €450,000

The live music bar and restaurant combined: €600,000

Optional extras: concept, brand and digital package: €150,000 – negotiable

The restaurant can only be acquired together with the live music bar. It therefore costs an additional €150,000 to include the restaurant.

If both businesses and the full concept and digital package are required, the total asking price is €750,000, excluding any taxes and acquisition costs.

What is the monthly rent?

The amounts below include premises rent, terrace rent and service charges. IGIC on the premises rent is payable in addition; any IGIC on the terrace rent is to be clarified.

Piano bar including terrace: €6,750/month. Eight months a year, €5,750/month for the four summer months

Restaurant including terrace: €3,750 per month.

Both businesses combined: €10,500 per month. Eight months a year, €9,500 per month. Four summer months

In addition, there are other operating costs, such as staff, stock, electricity, water and insurance.

A customer base built up over 15 years

The business has had a loyal customer base for the past 15 years. This gives a new owner the opportunity to build on existing customer relationships whilst attracting new guests.

Digital visibility supports this potential. According to the seller, Facebook has generated:

An average of 500,000 views per month throughout the year.

The separate concept and digital package includes the concept, brand name, social media, domain, work on Google visibility and supplier agreements. The contents of the package and the terms of transfer are to be agreed in more detail.

Interested in finding out more?

Contact Prime Properties GC for further information and a viewing.

The information has been provided by the seller. Floor areas, approved guest capacity, tenancy terms and financial figures must be confirmed by reviewing the documentation. An expected return can only be calculated on the basis of financial statements and total operating costs.

Details

• Type: Commercial property
• Transaction: For rent
• Province: Las Palmas
• Town: Mogán
• Area: Puerto Rico
• Bathrooms: 6
• Living area: 210 m²
• Constructed area: 230 m²
• Plot size: 300 m²
• Type of property: Re-sale
• Energy certification (consumo): G
• Energy certification (emisiones): G

Extras

• Floor: 1º
• Exterior: Yes
• Kitchen: Independent - Equipped
• Balcony: Open terrace - 70 m²
• Water heater: Electric - Individual
• Furnished: Yes
• Air Conditioning: Yes
• Lift: Yes
• Service door: Yes
• Stories: 2
• Access adapted for people with reduced mobility: Yes

Live music bar and restaurant for sale in Puerto Rico – with a loyal customer base spanning 15 years.

Prime Properties GC presents an opportunity to take over a piano bar and restaurant in the Puerto Rico Shopping Centre on Gran Canaria.

With a loyal customer base built up over the last 15 years, a combination of music, drinks and food, and high visibility on social media, a new owner will have a strong foundation on which to continue and develop the business.

This is a ‘traspaso’: the takeover of business operations and tenancy rights, not the purchase of the properties.

What do you get? Piano bar, restaurant, 210 m² spread across three rooms, 70 m² terrace, indoor seating for 210 people, outdoor seating for 120 people

A full takeover therefore comprises 210 m² of indoor space, a 70 m² terrace and a total licensed capacity of 330 guests.

The live music bar and restaurant offer guests the chance to enjoy a full evening of dinner, drinks and music, whilst generating cross-selling opportunities between the businesses.

How much does the takeover cost?

The live music bar alone: €450,000

The live music bar and restaurant combined: €600,000

Optional extras: concept, brand and digital package: €150,000 – negotiable

The restaurant can only be acquired together with the live music bar. It therefore costs an additional €150,000 to include the restaurant.

If both businesses and the full concept and digital package are required, the total asking price is €750,000, excluding any taxes and acquisition costs.

What is the monthly rent?

The amounts below include premises rent, terrace rent and service charges. IGIC on the premises rent is payable in addition; any IGIC on the terrace rent is to be clarified.

Piano bar including terrace: €6,750/month. Eight months a year, €5,750/month for the four summer months

Restaurant including terrace: €3,750 per month.

Both businesses combined: €10,500 per month. Eight months a year, €9,500 per month. Four summer months

In addition, there are other operating costs, such as staff, stock, electricity, water and insurance.

A customer base built up over 15 years

The business has had a loyal customer base for the past 15 years. This gives a new owner the opportunity to build on existing customer relationships whilst attracting new guests.

Digital visibility supports this potential. According to the seller, Facebook has generated:

An average of 500,000 views per month throughout the year.

The separate concept and digital package includes the concept, brand name, social media, domain, work on Google visibility and supplier agreements. The contents of the package and the terms of transfer are to be agreed in more detail.

Interested in finding out more?

Contact Prime Properties GC for further information and a viewing.

The information has been provided by the seller. Floor areas, approved guest capacity, tenancy terms and financial figures must be confirmed by reviewing the documentation. An expected return can only be calculated on the basis of financial statements and total operating costs.