Location, Location; Irish Bar / Restaurant for sale in La Zenia.
We are happy to present to the market this fine establishment, trading as “Murphy’s Irish bar”. This might be the opportunity you’ve been waiting for to buy a bar in Spain with a guaranteed footfall in a great location.
This wonderfully designed and located premises should have been a huge success. It was unfortunately born as the locality entered a Covid lockdown, meaning the current tenant never got a chance to turn it into a real profit. With some TLC, some new ideas and decent management, this can become the most profitable of Irish bars in Spain.
This is the last time three adjoining units will be sold in Zenia golf, the best located small commercial unit ever constructed on the Costa Blanca. It was built in 1998 by Escudero builders. Hardly any owners have ever sold their units here since buying them, due to the high yield and profitability in La Zenia. Buying now means that you can be open in time for the start of the new tourist season, St. Patrick’s day, March 17th.
We do not know of a more profitable commercial per m2 in Spain.
The unit is located on Paddy’s point lane, between the two Irish bars Gogartys and Paddy’s Point, guaranteeing the best of walk-in trade. Hundreds of thousands of ex-pats have frequented the centre since Paddy’s Point opened for business in 1999. Sports stars from various codes, TV personalities, politicians, musicians and regular folk have all walked down the famous lane one time or another. There are lots of high-quality patrons to go around all the various successful bars. Imagine what it will be like when the tourists are back, post-Covid!
The beaches of La Zenia and the Zenia Boulevard are just a short stroll away. Huge levels of construction in the area brought thousands of new residents. There is not enough quality commercial space to service their needs, again adding value to these premises.
This is a Freehold deal and will involve selling three units which previously were Comaskey Properties main office, La Zenia travel and the cafe known as The Sandwich bar.
The last tenants fitted out the three previous units as a bar/restaurant in 2019 but now internally it is largely empty. Most people who know the bar will know it looks and feels bigger than the official 148 m2. This is due to the various mezzanines, massive outside terraces and architectural design. The new owners will need to replace the kitchen but most of the structures of the bar are still there in place.
Bar for sale, La Zenia next to Gogartys and Paddys Point.
The Murphy’s group has rented the bar for the past two years. Their decision to not continue renting is based on their overexposure in the restaurant and bar sector in Spain and the current lockdown.
We feel that in 2022 when we are back to “normal” the business will once again soar, as it does in all of the neighbouring bars. Other bars which do exceptionally well are Brown’s of La Zenia and the Gap bar.
We think a commercial centre with such exceptional quality of hospitality will always facilitate profitability in all of the businesses. Comaskey Properties when they operated here sold 2,000 Spanish homes, from this office alone, in 16 years.
With our experience of bars and restaurants around the Orihuela Costa, we can say with confidence that we know of similar bars in the area that are currently recording turnover in excess of 2,500,000 per year.
Licences in the bar included.
Murphy’s bar has all the relevant permits and is fully licensed. Music, Food and of course Alcohol permissions are in place.
Authorisation to use the large outdoor terrace for serving food and drinks is a massive advantage and is already in place. Suggestions on how to develop the terrace are plentiful.
There are absolutely no loans, debts or embargos of any kind associated with the units.
Due to a previous negative experience, we are no longer able to offer the bar on delayed payment terms.
There is considerable interest in leasing the bar, but we are not currently considering that option.
We are currently listening to offers in the region of 540,000 euros.
If you are interested in finding out more, please contact Adam Cook;