Ref. C 201 / R 588998   –  EL PARAISO   € 695.000
Rare opportunity to buy a long-established, fully licensed, popular bar/restaurant!Set in the idyllic Patio Alcornocal in El Paraiso, in the heart of a large ex-pat community, this business benefits from regular trade from the local area, being the preferred “Local” for many residents, but is also easily accessible from other areas of the coast. It requires some refurbishment but is in very sound condition, a beautiful cortijo style property with fabulous gardens and very large swimming pool with bridge, which has been very popular for fashion shows and weddings in the past. It comprises of a total of 3 floors:

Groundfloor (475 m2) with entrance hall, restaurant/dining area which can seat roughly 50-60 people, cosy lounge/bar area, large kitchen, office, several bathrooms and various additional rooms currently used as storage, but which could easily be converted. Large covered terrace facing the garden & pool (south-west facing).

First floor (172 m2): large function room with 2 toilets, separate medium sized function/dining room with large stone fireplace (very cosy & ideal for private functions for smaller groups). Both rooms can be connected and have large doors to a beautiful covered terrace with fabulous views across the gardens towards the mountains and some sea views.

Basement (188 m2.): Three large rooms, currently used as storage – one under the bar (liqour store), one under the office, and one large cellar under the kitchen with staff showers, toilets & pump room for the pool.

Currently, there is an arrangement with the community for use of the swimming pool between April and September, for which the community pays € 1,350 per month. The office is rented out to the community administration at 575 p.m., and the first floor is currently rented by a hairdresser, so there is some income that can immediately be enjoyed by the purchaser. The function room on the first floor is ideal for club meetings etc. (of which there are many in the area, and with most hotels currently closed, clubs are short of decent venues). The bar and restaurant have been very popular for many years, and with a little facelift could attract a lot of new custom as well. The gardens are ideal for wedding receptions, fairs & markets, private parties etc.

It could also be converted into a boutique hotel, benefitting from close proximity to the El Paraiso Golf Club and the beach. The upper floor could be extended and also be converted into a spacious luxury apartment for the owner of the business, with the restaurant & bar operating below.

It could also be ideal as a beauty clinic or similar.

Finally, the property could also be converted into a private, luxury villa. The plot alone is worth more than the asking price!

The owners need to sell urgently, hence the exceptional price. Bank valuation from 2007: € 1,5 million.

There are also quite a few holiday apartments for sale at bargain prices in the urbanisation, which may make an interesting additional investment and could be added to any business venture based in this property.





 


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