business

CY0328L

EXCLUSIVE ASIAN RESTAURANT - LIMASSOL CENTRE

 
Business Type: Restaurant
Location: Limassol Centre, Limassol, CYPRUS  
Type of Tenure: Leasehold
Business Reference: CY0328L
Asking Price: € 295.000
Annual Turnover €400.000
Gross Profit Margin 60%
Monthly Rent €2.600
Stocks (at cost) included in Price
Reason for Sale Other Business
Accounts Available 2016 (AUD) 2017 (YTD)
Years Established 7
Incorporated Business Limited Company
Car Parking 10 private spots
Vendor Financing Negotiable
Full-time Employees 6
Part-time/Seasonal Employees 2
Internal Area 365 sq.m
Internal Seating 80
Terrace Area 252 sq.m.
Terrace Seating 100
Mezzanine Area 15 sq.m.
Mezzanine Seating n/a (Office & IT area)
Plot Area 615 sq.m.
 

Description

Location

This beautifully appointed restaurant is located in old Limassol’s historical Town Centre. While the whole area’s infrastructure has been recently upgraded and modernized, the traditional neighbourhood character and charm have been preserved.   The area is characterized by listed neo-classic buildings, most of which have been converted to upscale restaurants, retail shops and offices. The modern commercial town centre, Technical University facilities and Limassol seafront, are all within easy walking distance making this an ideal location for a restaurant.

Premises

The detached, listed neo-classical building is built on a large plot (620 square metres) and is very well appointed with modern designer furniture, lighting and fixtures which, as can be seen in the photos, complement its traditional character.

The interior has a reception and bar area with antique floor tiles and three large dining-areas with hardwood floors, each with different LED lighting (amber, blue, red) and character. The ground floor also accommodates a fully equipped professional kitchen, a walk-in freeezer, two large refrigerators and several storage & ancillary rooms. There is also a mezzanine which accommodates an office and computer room. Finally, there is also a large attic for furniture and equipment storage.

The internal dining areas offer a unique customer experience, enhanced by 20 interactive dining tables with touch screens, which are connected to the restaurant’s computer system. These tables not only display the menu and detailed descriptions of each dish, but are also used by clients to order food or request the bill. As a result, there are significant payroll savings (fewer waiters needed – at least two) and higher spend per client due to the visuals, interactivity and entertainment value.

For al-fresco dining there is a large stone-paved courtyard (252 square metres). On one side of the courtyard there is an elevated deck with three curtained marquees for private dining (8-10 persons per marquee); an open-air area with tables of different sizes (70- 80 persons in total), a garden area and romantic lighting throughout.

Market Positioning

The restaurant’s theme is based on Asian fusion cuisine. The combination of authentic & proprietary Asian menu, quality service, professionally designed interiors and overall ambience, position this restaurant in the middle to high-end bracket with average ticket per client ranging from €35 to €50. It offers a unique and highly differentiated dining experience which ensures its continued commercial success. The restaurant is open all year round and does not rely on tourists, although there is a slight peak in sales during the summer months. The clientele is evenly balanced between Cypriots and foreigners who live permanently in Cyprus (British, Russian, German, etc.).

Permits & Licenses

The business has obtained all necessary permits & licenses (Town Planning & Cyprus Tourism Organization permits, alcohol and music licenses, Health Department certificate).

Value for Money

This is a very competitively priced, exclusive and profitable restaurant.

  • The investment in furniture, fixtures, equipment and building improvements exceeds the Asking price
  • The Restaurant brand & concept, as well as the proprietary recipees, are all included in the Asking Price.

The owners are aiming at a quick sale due to pressing needs of other businesses in which they are involved.

 

Photos

  • The present business is offered for sale by DealMasters.  Any information downloaded or printed is intended strictly for private use by you as a Registered User of our web-site; it may not be copied, published or distributed in any manner. 
  • You are advised that this is a confidential sale, therefore no direct approach to the business owners or business premises should be made and all viewings should be arranged through DealMasters. 
  • Prior to disclosure of the identity of the business and/or its owners, business financials and other operational details, interested parties will sign the standard Confidentiality Agreement, which can be downloaded here or sent to you by fax upon request.
  • We do not perform any due diligence on businesses for sale, business owners, or the information provided by them.  Such information is passed on by us without any guarantee or responsibility. Interested Buyers are strongly urged to perform thorough due diligence prior to acquiring a business
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