Bar / Cafe for sale in Benalmadena
Freehold investment opportunity with sitting tenants. The owner of this long established Pub style bar has owned the freehold for over 30 years together with other cafes he owns on the Costa del Sol, he is liquidising his assets and selling this property at a very realistic price.
The bar has been leased out continually returning the freeholder good returns. In Spain the landlord of a freehold bar gets a percentage of the lease sale price on transfer so this is another financial benefit of a freehold investment in addition to the regular rental return.
The good sized bar has a licensed kitchen facility which adds to the overall asset together with a very popular and sizeable sunny terrace, part of which has a full all weather awning, local terrace taxes are not applicable in the area. The rates on the property are low and paid by the tenant, approximately 400€ per annum. Landlords insurance is only 350€ per annum so the costs to the owner are negligible.
The bar is situated close to the picturesque town of Arroyo de la Miel, it is surrounded by holiday let and residential apartments. With both commercial and residential property prices on the increase here on the Costa del Sol following the well publicised property slump it is an ideal time to buy now and look forward to good profits in appreciation values.
The present tenants have a self repairing lease in place that has approximately 9 years left to run. Rental return currently is 9,000€ per annum.