Cypriot Bar/bistro Available in Famagusta - Cyprus
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Business Description
• Established business
• Close to shops and University
• Satellite system & TV
• PA system
• Fully equipped kitchen
• 80 covers total
• Good potential
• Low rent
This business has been running under the present management for the past three years. Attracting clientele from the nearby University it trades mostly in the evenings. The location it is in is excellent being close to the main shopping street in the area as well as the Eastern Mediterranean University. The inside capacity of the restaurant is around 40 with a further 30 covers possible on the outside terrace. The current owner has worked hard to create a unique ambience and style for the café which is noticeable as soon as you walk inside, with a roomy seating area and a welcoming bar. There is a lounge area for reading and a quieter study area and an office. There is ladies and gents toilets and a large, fully equipped kitchen. The current landlords are happy to discuss extended lease terms at a reasonable rental level. Please ask for further detail
ABOUT THE BUSINESS PREMISES
The main restaurant area is around 160m² in total and will seat around 40 people. This area is informally divided into the bar area, a sofa arrangement around a coffee table and book case. A cold cabinet for serving and selling the fresh cream cakes the restaurant is famous for, a bar area with bar stalls, a study area and an office. Access to the two toilets are to the left of the bar.
External. A paved terrace to the front of the restaurant that will seat around 30 to 40 people. The scope for increasing the business here is very real. With many apartment blocks close by as well as the University and shopping area.
The landlord of the premises has said that he is willing to discuss a long term lease at reasonable rent levels.
Turnover and profit margin
This business has been run for the past three years more as a labour of love than as a profit making venture. The current owner has enjoyed her time here serving drinks and her speciality cakes to the community but now feels it is time to move on. The asking price really just reflects the asset value of what has been put in to the business rather than basing it upon turnover/profit etc.
The new owners will have an established business to take over and, through their own efforts, an opportunity to build upon the existing good will to make a profitable establishment.
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Approximate price of this 0-Bed Bar/Bistro
€24,908 EUR |
£19,950 GBP |
US$31,277 USD |
(Currency and Foreign Exchange services supplied by  )
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| Type |
Bar/Bistro |
| Category |
Re-Sale |
| Listed |
over 6 months ago |
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Property Characteristics
- Setting: Close To Schools
- Setting: Close To Sea
- Setting: Close To Shops
- Setting: Town
Map of Famagusta, Famagusta, Cyprus
Real Estate Agent Listing this Property
Towns located close to Famagusta, Cyprus
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Latest Property News in Cyprus
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Price of Property in Famagusta, Cyprus
| (All prices in EUR) |
Famagusta |
Famagusta |
Famagusta |
| Business |
19,950 |
1,200 |
3,500,000 |
4,270,000 |
- |
180,780 |
| Detached |
60,000 |
60,000 |
595,000 |
13,500,000 |
- |
- |
| Apartment/Flat |
29,500 |
7,000 |
270,000 |
4,000,000 |
196,478 |
168,000 |
| Bungalow |
35,000 |
35,000 |
197,000 |
1,440,000 |
- |
429,500 |
| Other |
39,950 |
29,500 |
39,950 |
11,000,000 |
230,661 |
130,024 |
| Townhouse |
2,194,000 |
39,900 |
2,194,000 |
29,204,425 |
160,599 |
354,200 |
| Studio |
45,000 |
29,500 |
45,000 |
205,000 |
- |
82,000 |
| House/Villa |
78,000 |
35,000 |
1,700,000 |
17,250,500 |
239,190 |
427,150 |
* Calculations based on 40 properties for sale in Famagusta and 11575 properties for sale in Cyprus |
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Tel: (+34) 952 471 774 | 
UK Freephone: 0800 047 0597 | 
US Toll Free: +1-866 656 7152
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