Pool Bar & Tennis Club & Apartment Freehold For Sale In Costa Teguise, Lanzarote - SOLD (Sold)
About this property
Business type: Bars & Pubs
Business area: Costa Teguise
Sale type: Freehold
Price in Euros: 126000
Price in GBP: 103546.8
Price in USD: 161116.2
Turnover last 12 months: €25000
Accounts Available: Yes
Reference Number: CT12
Sound System: No
Televisions: 2
Security System: Yes
Air Conditioning: No
Till System: Yes
Display Equipment: Yes
Specialist Equipment: Yes
Licenced Opening Hours: 10am - 10pm
SOLD ON RENT-TO-BUY OPTION CONTRACT APRIL 2010
This pool bar is being at this fantastic price freehold and including a studio apartment for owners to live in. The current owners took the business as a semi-retirement option but have not returened to the UK due to ill health and so have revised their price to achieve a quick sale. With many days spent sat on the terrace of their bar watching guest play tennis or swim in the pool there are very few businesses available that really do give the true semi-retirement option such as this one.
The pool bar is situated on a complex in Costa Teguise and is totally unique in that the pool bar does not form the only income for the owners. The complex has 3 Padel Tennis courts and also a full-size tennis court that the owners of the pool bar can hold on a 10year lease with the community of the complex. The tennis courts are exclusive and are therefore very popular with many local (Canarian, British & German) residents and these form more than 50% of the income currently. The owners describe the business as the perfect semi-retirement as they have to look after guests using the tennis courts (each usually rented for 90 minutes per session) with bottles of water or energy drinks and sometimes a bite to eat.
Although the tennis courts provided some of the income for the couple the complex is also large and is mainly filled with long-term rentals and holiday rentals that form the otherside to the business. With a large pool next to the bar the owners operate a normal small snack menu as well as drinks and ice-creams for those living or staying on the complex. They also offer a small mini-market service with tea bags, milk, large water and other products especially for those arriving in to the holiday rental apartments to allow them to settle straight in to their holiday.
The apartment is situated under the bar and so provides a lengthy 2 minute commute to work for the owners. With the same view as the bar terrace this allows the owners to have the bar shut (for siesta) in the afternoon but know if anyone comes along for an afternoon tennis session. The apartment is currently a spacious studio apartment and so could be very easily converted to close the kitchen/dining area off and make it a one bedroom apartment. The apartment would expect to fetch about €75,000 on the current market or could be rented separately for approximately €500 per month should owners consider not to live on the complex.
DOESN'T RELY ON TOURISM - TOURISTS ARE THE BONUS MONEY OF THE BUSINESS
