Property Ref: SPN57277_D
Freehold on a bar in Costa del Silencio for sale at 99,950 reduced to 94,950 and exclusively on sale through the .net network of estate agents. The bar currently has a tenant on a 5 year lease paying 600 per month rent so income on the property is solid. The bar has previously been valued at 150,000 and the rental has been as high as 1,150 before the economy took a turn for the worse. The bar measures 108m2 in total and this is divided between 74m2 inside and a 34m2 terrace outside. There are also communal gardens just in front of the bar. Fully fitted and trading with a tenant in place this is a turn key investment opportunity – no work required. The bar is fully licensed with all paperwork in place and meets all current regulations. The bar has been open for over a decade and is well known and well established ion the area, situated just across the road from Coral Mar with a good amount of foot traffic passing by. The bar has a bathroom and fully fitted kitchen and does a decent trade in both food and drinks. If and when the current lease is sold on by the current lease holder, the owner of the bar (which would be you) is entitled to 15% of the Gross price so the return on investment is not just limited to the rental/lease income. The price is currently set at 94,950 but the owner is open to sensible offers. A different proposition to investing in an apartment but certainly not one that should be overlooked if your priority is generating an income on your money. At the current price, you will making 7,200 per year gross. After deduction of tax, insurance and community this drops to 6,100 which is 6.4% on your investment, plus future capital appreciation and 15% of the price if the lease is sold on. For more information, get in touch.
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