Tavira, Eastern Algarve
Ownership Status: Private
Built in: n/a
521m2 Plot size
/ m2 plot
Unique opportunity to acquire a well-established, successful seafood restaurant, together with 4 apartments and an additional commercial facility in a prime location in the Eastern Algarve.
The building is positioned in a low-density residential neighbourhood, where a large proportion of the accommodation is allocated to tourism: a large selection of restaurants and shops, cater to both tourists and locals alike throughout the year.
The ground floor consists of the restaurant, with its fully fitted kitchen and storage areas, and two additional commercial units, which are currently being transformed into an extension of the existing restaurant as they can be connected to the kitchen. Four independent apartments can be found on the 1st and 2nd floors of the building.
This is a golden opportunity to take over a well-run restaurant business that has an excellent reputation, benefits from a regular client base and is in a great location for walk-in trade.
The fact that this restaurant has managed to generate a handsome turnover during the current economic downturn is a testament to its reputation and worth.
Open all year round for both lunch and dinner trade, the restaurant can seat 50 comfortably inside and has the capacity to seat an additional 60 on the terrace outside. When completed, the new extension will provide an additional 50 place settings.
The open-plan kitchen is fully equipped and includes a wide variety of quality, professional appliances including a Gresilva gas grill; a Grelhaço charcoal grill; a Winterhalter glass washer; a Euro Cave wine display cabinet; an Adriatic Sea aquarium; and an electronic/digital real-time order system with kitchen monitor.
The kitchen has ample storage and has a back room that can be used as a pantry or for food preparation.
There are separate male/female toilets and a washbasin for the clients and a toilet/locker room for the staff.
Staffing requirements vary according to the season and can range from 8 in the winter to 15 in the summer.
There is sufficient public parking in front of the restaurant.
All the necessary licenses are in place for an easy handover.
Given its location, the apartments above the restaurant are extremely well-positioned and offer the possibility to generate either short or long-term rental income.
The first floor has 2 apartments – one T1 and one T4. The T4 was remodelled in 2015 when two of the smaller apartments were transformed into one.
There are 2 one-bedroom apartments on the second floor each with their own south-facing balcony.
This is an excellent business opportunity in a location increasingly valued for its quality of life.
This particular investment package offers very profitable returns.
- Covered dining area
- Features great views
- Sea view
- On the waterfront
- Morning sun
- Evening sun
- Orientation: South facing
- Near bars / restaurants
- Near school(s)
- Near shops
- Near a golf course
- Near the beach