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Established Cocktail Bar In Skiathos Island Greece For Sale

Skiathos Island, Magnesia, Greece
Asking Price:
€250K - €500K Furniture / Fixtures included
Sales Revenue:
€450,000
Cash Flow:
€50K - €100K

This cocktail bar which received 'The Best Bar in Europe Award' is located on one of the top tourist destination islands- Skiathos. Considered to be one of the most beautiful islands of the northern Aegean, it is known for it's turquoise aqua marine/ white sand beaches and pine forests.

This cocktail bar also serves food enabling the business to operate as both a café/bar in the morning/afternoon and cocktail bar by night. It is located on the sea front of the old port with outstanding views of the picturesque fishing harbour.

After an extremely successful and busy 23 years of business the owner is now retiring and looking to sell.

This would be an ideal business for a foreign investor who is familiar with the trade and would relish the opportunity to locate to a special part of the world.

The bar employs 3 bartenders, 6 waiting staff, a hostess and a cleaner. A DJ is also employed at night.

The business can accommodate up to 250 outdoor seating spaces and 25 indoor spaces. In any one evening it is possible to have 3-5 rounds of customer turnover. It is located on a traditional cobble stoned walkway leading to the church square ensuring lots of foot traffic which generates a bustling vibrant atmosphere.

The business has a turn over of 450,000 euros (including VAT). The bar comes fully equipped making it possible for an immediate start and no initial investment needed. A new lease exists for 10 years.

Property Information

Real Estate:

Lease

Lease Terms:

10 year lease.

Leasehold Rent:

€66,000 per annum

Location:

This cocktail bar which received 'The Best Bar in Europe Award' is located on one of the top tourist destination islands- Skiathos. Considered to be one of the most beautiful islands of the northern Aegean, it is known for it's turquoise aqua marine/ white sand beaches and pine forests.

Premises Details:

It is located on the sea front of the old port with outstanding views of the picturesque fishing harbour.

Size in square feet:
115 square meters (inside), 120 square meters (outside)
Planning Consent:

The establishment has licenses to operate as a cafe/bar serving food and drinks and as a cocktail bar selling alcoholic beverages. Potential for larger commercial kitchen to be installed (included in new license).

Business Operation

Expansion Potential:

None

Competition / Market:

5 other bars located in close vicinity. This however has been an advantage as it brings additional customers to the area and creates an exciting hub of activity in the day/night.

Reasons for selling:

Owner retiring.

Trading hours:

12noon- 3am

Employees:
12
Years established:
23

Other Information

Support & training:

2 months of training offered to the new buyer and existing owner would be willing to also offer 3 hrs of free consultation every day for the next summer season 2024 (if desired).

Furniture / Fixtures value:
€130,000 - included in the asking price