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Restaurant By A Byzantine Church In Thessaloniki For Sale

Thessaloniki, Greece
Asking Price:
€220,000 Furniture / Fixtures included
Sales Revenue:
€3,000,000
Cash Flow:
€75,000

It is the opportunity to capitalize on the history of Thessaloniki. The restaurant is adjacent to a Byzantine church, a UNESCO monument. The church is anointed, with the wall painting of the dome with the representation of the Ascension in the upper zone, the prophets in the middle, and the Divine Liturgy in the lower zone.

The restaurant is well known for its fish, seafood, meat, and vegetarian dishes as well as for the quality of the food throughout the years. It has sitting space for 46 people inside and 38 in the open space by the church. Fish suppliers are fishermen and divers from Alonisos, Kavala, and Peloponnese, and animal farms from Xanthi, Tsotyli, and Vavdos for pork, chicken, lamb, and beef meats.

Currently, sales are near 300.000EUR, with earnings of 40.000 EUR. With the restaurant operating as-is 6 days per week for 14 hours per day (today operates less than 5), the average turnover would be 10.000 euros per week or more than 500.000 euros per year.

The food industry in Greece is estimated to "run" with a growth of 10.7% in the period 2021-2024, reaching a turnover of 10.5 billion euros in 2024. This a low-risk high-returns investment, for a profitable, well-placed restaurant adjacent to a UNESCO monument, where a chef can see history with his own eyes and create inspired Mediterranean dishes.

Property Information

Real Estate:

Lease

Leasehold Rent:

€24,000 per annum

Location:

At the center of Thessaloniki, near a main street and Roman ancient ruins

Premises Details:

Near the University, the city center and a sales district, with a lot of tourism all year round

Size in square feet:
1,000

Business Operation

Expansion Potential:

The restaurant can expand the sitting room by 20 seats

Competition / Market:

No other restaurant in Thessaloniki is located adjacent to an UNESCO monument, and very few are in business for nearly 50 years.

Reasons for selling:

The owner is looking to sell the restaurant because he wants to change his profession due to family reasons.

Trading hours:

Now is working only Wednesday to Sunday, 11:00am to 12:00pm

Employees:
7
Years established:
47

Other Information

Support & training:

3 months of training and support by the previous owner