Mallorca Beautifully Refurbished Hostel Bar & Restaurant For Sale

Business description

This ‘Hostel, bar and restaurant’, has to be one of the best deals of all time. Recently lovingly refurbished including new plumbing, wiring, tiling, plastering.. new reception, lounge area, bar and restaurant.. this building although licensed as a hostel is more like a good standard 2 star hotel!

Busy, central location just 150mts from beach. Many sports and fun activities possible such as Squash, Tennis, Bowling, all kind of Water-sports, Bars, Discos and Restaurants. The Hostel opens the whole year round, 24 hours a day with consistent occupancy all throughout the year.

Officially 32 bed-rooms, modern, clean, immaculate with own shower and WC (but unofficially 39 rooms – the additional rooms used to create owners 3 bed apartment) The rooms are distributed over 3 floors, some with a balcony/terrace, all double sized with quality furnishings and fitments.

A welcoming and highly attractive reception / lounge area with pastel shades, bright orange modern sofas, beautiful lighting and attractive paintings and features. To the lower / ground level is an independent bar and restaurant, both completely reformed and come fully furnished. Can be sub-let or run along side the business. Sat-TV in the bar, plus wi fi connection. Meals and drinks offered at the downstairs snack bar and terrace. Large commercial kitchen, water de-cal plant.

Currently run by a family, Mum and Dad and grown up brother and sister. Working well however yet to be marketed to its full potential, most clients being a mix of long term tenants in winter and walk ins in summer. Takings indicated at 75,000€ from the hostel and 40,000€ from the bar. Further potential exists to open and run the restaurant or consider a sub let.

Property information

Real Estate:

Lease

Lease terms:

10 Year Contract / Monthly rent 2,350€

Living accommodation:

3 Bed Owners apartment