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Large Ethnic Restaurant In Paphos For Sale

Paphos, Paphos District, Cyprus
Asking Price:
€420,000
Sales Revenue:
Available on request
Cash Flow:
Available on request

This exceptionally well set up and highly distinguished ethnic restaurant occupies a large detached property, on a very busy main road just a few minutes from Paphos and right across from the sea.

The property consists of 135 square metres ground floor, 65 square metres covered terrace area and a very large basement with accommodation for up to 6 employees. Total seating capacity is almost 200 persons in covered areas, while a large private parking area next to the restaurant can accommodate up to 100 cars. In the summer, additional open-air seating is available outside in the garden, where there is also a large playing-ground for children.

Therefore, the restaurant can accommodate large parties, tourist groups, events and functions, as well as the usual restaurant clients. Unlike most restaurants in Paphos business is not seasonal, therefore the restaurant stays open all-year round to cater for loyal local clients, functions, regular buffet events, as well as visitors & tourists.

The interior is furnished and decorated to a very high standard in an ethnic Asian theme, which creates an ambiance perfectly matched to the cuisine. Equipment is also complete and of high quality, with sound system in all areas, CCTV cameras, air-conditioning & heating, automatic fire extinguishers and draft beer pump.

In the kitchen, the business employs 4 cooks specialized in authentic ethnic cuisine and it is no coincidence that this restaurant has been awarded Certificates of Excellence by Trip Advisor for three years.

There is also a huge sub-basement with windows & natural ventilation which has planning permits so that 6 foreign employees can be accommodated in the premises. The sub-basement also has three large storage rooms and two walk-in freezers. There is another large refrigerator in the fully equipped kitchen on the ground floor.

On the premises there are also two boreholes with a water pump to irrigate the garden and sprinkle the extensive outside areas.

The business is very well organized and managed, while existing personnel is capable and loyal, therefore a new owner does not need to be an experienced restaurant manager or chef.

Although the business is very well known to locals and has regular clientele, the owners promote the business regularly via emails and SMS messages to over 5.000 recipients, to maintain a turnover of about €---.--- annually. With the current turnover and profitability, payback can be achieved in about 3 years. Currently the restaurant is open nights only, however lunch business could be substantial especially during the summer with tourist groups.

Audited accounts are available and can be released to interested parties subject to signing a Confidentiality Agreement and demonstrating serious intent to purchase.

This profitable and sustainable restaurant is offered for sale only because the owners need to retire.

Property Information

Real Estate:

Lease

Business Operation

Years established:
12

Contact Information

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