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Bar for Sale in Peyia, Cyprus

Award-winning restaurant and bar in Cyprus with 80-seat capacity, catering to local and tourist clientele.

Established 10-20 year(s)
Employees 5 - 10
Legal Entity Sole Proprietorship/Sole Trader
Reported Sales USD 500 thousand
Run Rate Sales USD 540 thousand
EBITDA Margin 20 - 30 %
Industries Restaurants + 1 more
Locations  Peyia
Local Time 8:16 PM Europe / Istanbul
Listed By Business Owner / Director
Status Active
Overall Rating
Full Sale
Asking Price: USD 385 thousand (Native Currency: EUR 340,000)
Reason: Simply time to move on, having been actively running my own hospitality venues for over 30 years it'... View More
Includes physical assets worth USD 57 thousand
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Business Overview
- Well-established restaurant and bar located in a prime position on the busy main street of one of Cyprus's most popular tourist areas.
- The business caters to both local and tourist clientele with a seating capacity of 80.
- Offerings include American grill, continental, and Italian cuisine, with popular items including burgers, ribs, salads, and chicken tenders.
- The prices of the dishes offered at the restaurant range from 10 EUR to 28 EUR.
- Utilizes food delivery platforms such as Foody, accounting for 5-10% of sales, and also offers delivery and takeaway services.
- Positioned in a tourist area, the business experiences a daily footfall of approximately 150 in the summer and 60-70 in the winter.
- The business being established for 10 years, has built a strong brand and loyal customer base, particularly popular among locals.
- The promoter's experience of 30 years in running hospitality venues has also played a major role in the success of this business.
- Regular entertainment offerings such as karaoke three times a week, live sports, and events like a dart board and pool table contribute to a vibrant atmosphere.
- Additionally, the business benefits from its proximity to a beach, souvenir shops, holiday villas, and a residential area, enhancing its appeal to both tourists and locals.
- Furthermore, the establishment has been recognized with multiple awards, including the Best British Pub in Cyprus for three consecutive years.
- We have the necessary operation license, food license, alcohol license as well as music license for love music shows that are essential to run the business in the given locality.
Products & Services Overview
- The restaurant's top-selling products are American grill items such as burgers and ribs, along with salads and chicken tenders.
- These are popular among both local and tourist clientele, with tourists primarily visiting in the summer.
Assets Overview
The tangible assets include all fixtures, fittings, stock, and entertainment accessories such as the sound system, pool table, dart boards, and karaoke machine.
The intangible assets comprise a long lease valid for the next 13 years, the existing staff, goodwill, social media, and website accounts.
Facilities Overview
The restaurant is located in the Coral Bay locality of Peyia, occupying a rented space of 270 sq m. It consists of 170 sq m of indoor area and 100 sq m of outdoor area. The property is leased for the next 13 years, with a monthly rent of EUR 2,400.
Capitalization Overview
The business is run by a sole proprietor and has no outstanding debt except current trading liabilities and utilities.
There are no external loans and all suppliers are paid mainly in cash on delivery.
Recent Activity
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Disclaimer: SMERGERS is a regulated marketplace for connecting business sell sides with investors, buyers, lenders and advisors. Neither SMERGERS represents nor guarantees that the information mentioned above is complete or correct.
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