Popular bar in Tenerife offers prime investment opportunity
Tenerife has established itself as a firm favourite with those in search of a summer getaway or a winter sun destination. Indeed, the island's tourism figures reveal that the total number of visitors to Tenerife each year exceeds 5,000,000.
Naturally the island's tourist industry creates a substantial amount of business for the region's bars, clubs, restaurants, cafes and shops. One such local business which has welcomed thousands of holidaymakers through its doors is Oscars - a lively entertainment bar in a busy area of Playa de Las Americas –one of Tenerife's most popular holiday resorts; situated next to Los Cristianos and stretching northward to the Costa Adeje. The business has just gone up for sale and is currently on the market for €145,000 (approx. GBP £134,633).
"Oscars is a large commercial unit located in the heart of Playa de Las Americas and which subsequently benefits from the area's thriving tourism industry," explains Alan Nicolson, the managing director of Clear Blue Skies Group S.L., an independent estate agent in the south of Tenerife which is currently marketing the business.
"The current owner is actually very reluctant to sell the bar; indeed, it's very rare for a commercial unit of this size in such a prime location to become available. The beauty of this particular business is that it is also highly adaptable and can be changed to meet the aspirations of the buyer. The size and position of the unit makes it suitable for use not only as an entertainment bar, but as a restaurant or commercial unit."
As it currently stands, Oscars is a spacious bar which is popular with local residents and holidaymakers and has seating for 120 people inside. There is an outside terrace which enjoys sunshine all afternoon and has seating for 30 people, as well as a daytime ice cream parlour which could be converted into a takeaway.
Internal features include a spacious, fully-fitted and equipped stainless steel kitchen - ideal for preparing meals and snacks throughout the day and night; a full, professional sound system; a large entertainment stage; hi-tech lighting; sound-proof doors; separate changing rooms, shower and toilets for the acts/entertainers/staff; two large store rooms, air-conditioning, four toilets; five plasma TVs, 3m projection screen, satellite system which enables all Sky TV and major sporting events to be shown in the bar.
The premises are wheelchair-friendly and have ramp access as well as a disabled toilet. The bar has been tastefully decorated and features classic Hollywood memorabilia, including signed and framed photographs of famous film icons, which are included in the sale price, along with high-quality chairs, tables, fixtures and fittings.
"This business is an incredible opportunity for an entrepreneur who is looking for the potential to cash in on Tenerife's thriving tourism industry," says Mr. Nicolson.
"One of the great things about this investment opportunity is the fact that, as it stands, Oscars already has a large resident base of clients as well as a huge number of repeat clients. The business has firmly established itself in Playa de Las Americas, indeed, it's the only bar in Tenerife to have secured many of the top acts which do not appear in other bars on the island, only in the hotels."
"Of course if the new owner has their own vision for how they wish to adapt the commercial space to meet their own business objectives, then this is equally achievable because the space is very malleable. The prime location and size of this commercial unit makes it a must-see whatever the buyer's aspirations may be."
Click here for more information, or to enquire about this business for sale in Playa de Las Americas, Tenerife.
© PropertyIndex.com 2009 | Last Updated: 14th April 2009
