business

CY0340L

COUNTRY STEAK HOUSE - NICOSIA DISTRICT

 
Business Type: Restaurant
Location: District Village, Nicosia, CYPRUS  
Type of Tenure: Leasehold
Business Reference: CY0340L
Asking Price: € 0
Annual Turnover 100.000 (open 2 days only)
Gross Profit Margin 65%
Monthly Rent 500
Stocks (at cost) 5.000
Reason for Sale RETIREMENT
Accounts Available 2017
Years Established 36
Incorporated Business LIMITED COMPANY
Relocatable Business Νο
Car Parking 20 (Free Public Parking)
Vendor Financing Negotiable
Full-time Employees 3
Part-time/Seasonal Employees 2
Internal Area 120 sq.m.
Internal Seating 28
Terrace Area 30 sq.m.
Terrace Seating 18
Mezzanine Area 60 sq.m Roof Terrace
Mezzanine Seating 40
Plot Area 150 sq.m.
 

Description

This is not an ordinary country restaurant having won the Excellence Certificate from Trip Advisor for 5 years in a row!

First of all, its premises are in a listed building of archaeological value – customers feel that they are part of history. Interior design, furniture and decoration is in line with the building’s heritage, to create an authentic but cosy ambiance. 50% of the cost for any changes to the building’s interior are financed by the Antiquities Department, as long as these changes are approved.

Second, the cuisine is fusion/international with ethnic elements from Cyprus cuisine but also other ethnic dishes – definitely not the standard “village tavern” menu.

Third, this restaurant has won many acclaims from international travel and tourism websites as well as from local restaurant & entertainment magazines.

The premises are divided into three main sections:

  1. The front veranda, which is protected by side-curtains in the winter and is heated, with seating for 18 – 20 persons.
  2. The main dining area on the ground floor, which seats 26-28 persons. On the ground floor there is also the main kitchen, dish-washing area, storage rooms and guest toilets.
  3. Upstairs there is a large roof terrace with seating for up to 40 persons. There is also a Bar, a brick charcoal grill, a large extra room, a small bed-room for staff, staff toilets and extra storage.
  4. The large extra room upstairs is currently used by the owners as a studio/bedroom, but can easily be opened up to accommodate another 40 persons.

There is ample free parking in two public-parking lots nearby. In addition, all tourist buses stop to drop off tourists just outside the restaurant, so there is good walk-in business.

However, the restaurant does not rely on tourists. Most clients are permanent residents in Cyprus and come from all towns – including Cypriots, expatriates, diplomats and employees of international companies. Also, many visitors find the restaurant from travel & tourism websites and social media. The clientele is very well established and has been rising consistently the last 5 years – it is actually difficult to find a table during peak season.

The location is in a picturesque and very popular mountain resort, surrounded by pine forest and great views. In the winter, people drive down after skiing, or just enjoying the snow on Troodos mountain, to have lunch or dinner at this restaurant. Others who may not want to get deep into snow territory, but still enjoy the winter scenery, drive from Limassol or Nicosia for a day out in Nature – and good food. Summer clients include many visitors who rent rooms in the village or stay in local hotels. Of course, summer weekend outings in the mountains are a tradition, so the restaurant also gets clients from all towns in the Summer-time.

Expansion potential:

First, there is a large room upstairs, which opens up to the open-air terrace and can be used to accommodate an additional 40 persons, so total capacity upstairs can be expanded to 80 persons - all seated.

Second, opening hours can be extended: the restaurant currently opens only for weekends. In peak winter and summer months the restaurant could stay open much later for dinner, alternately for drinks and snacks only, especially the bar upstairs on the terrace.

 

Photos

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