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Restaurant And Sports Bar In Nicosia Centre For Sale

Nicosia Centre, Nicosia District
Asking Price:
€199,500 Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
€360,000
Cash Flow:
Available on request

This large and versatile food & beverage business is located on a busy commercial avenue, well known in Nicosia for shopping, restaurants, cafes and entertainment venues. It is also very near the University of Nicosia with over 14.000 students, while the surrounding area is densely built with residences and offices.

The business is multi-functional and operates from 6:45 in the morning until after midnight, offering something different to various types of clients, all hours of the day:
Cafeteria in the morning and afternoon,
quick lunch & snacks at lunch-time,
sports-bar/pub in late afternoon/evening,
pub-lounge bar,
dinner restaurant in the evening.

The varied clientele is also attracted by special events, such as backgammon & card games tournaments, special ladies’ nights with make-up exhibitions & fashion shows, magician shows, guest DJ nights and live music at least once a week.

The business occupies a large, detached building with an adjacent private parking plot for 17 cars, although there is also plenty of free parking on the street. Total capacity is 200 persons seated, not counting bar seating. Most of the seating areas have retractable aluminum roofs which are opened on summer nights, while some areas are air-conditioned. There are large TV screens and speakers everywhere and a centrally controlled sound system.

The premises are large enough to offer each type of client the ambience they want, whether it’s a football crowd at the bar, or a family having a quiet dinner on the other side of the building. Therefore, clientele consists of families, students, sports fans. The business also accommodates corporate functions in a specially appointed room and the rear terrace, such as presentations of new products or services. The business also accommodates private parties and christenings.

Accommodation: Upstairs there are four bedrooms and two full bathrooms which can be used for accommodation, either by the owners or for staff.

The building has all the necessary Building & Town Planning permits while the business is licensed as a Class B Restaurant.

This profitable business is offered for sale at an attractive Price, due to the owner’s commitments with several other business activities.

Property information

Real Estate:

Lease

Lease Terms:

Expires 2026 / renewable

Leasehold Rent:

€17,556 per annum

Living Accommodation:

4 bedrooms and two baths upstairs.

Location:

Main street in Engomi area of Nicosia, densely populated and surrounded by commercial, shopping & residential properties. Also, very near private University with 14.000 students

Premises Details:

Whole, detached building on two floors and large terrace areas all round. Parking provided in rented land plot next door and free-on-street

1500 sq.ft indoor areas plus 2100 sq.ft terrace areas covered with retractable aluminum canopies

Size in square feet:
1500 sq.ft
Planning Consent:

All Town Planning and Cyprus Tourism Organization permits held for Class A Restaurant

Business Operation

Expansion Potential:

The upstairs areas are currently not used. They can be used for accommodation or converted to add more seating areas

Competition / Market:

The area is a hotspot for restaurants, cafeterias, entertainment, shopping.

Reasons for selling:

Owner has various other business activities and family obligations and is pressed to sell

Trading hours:

7:00 am till midnight

Employees:
6 full-time and 8 part-time
Years established:
4

Other Information

Support & training:

3 months free support and training

Furniture / Fixtures value:
€250,000 - included in the asking price
Inventory / Stock value:
€15,000 - included in the asking price

Contact Information

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