Shop / premises commercial in Faro (Sé e São Pedro) of 153 m²
About this shop/premises commercial at Faro (Sé e São Pedro), Faro (Sé e São Pedro)
Investment Opportunity in the Heart of Faro: Profitable Guest House
Nestled in the picturesque Baixa de Faro, this charming guest house offers a unique and highly profitable investment opportunity. With an annual net income exceeding €100,000, this property is ideal for those seeking a solid and thriving business.
Property Features:
4 spacious rooms, including 2 equipped with kitchenettes.
Modern bathrooms with suspended toilets and bidets.
Illuminated stairs for enhanced safety at night.
Lease Details:
The lease agreement is actually a commercial lease in Portugal. Typically lasting 1 to 3 years, this lease has an initial duration of 10 years, with the possibility of automatic renewal for an additional 8 years. The rent is very affordable, only €1050 per month, subject to annual reassessment based on the prevailing index. It's possible to negotiate with the landlord to spread the costs over 10 years, although this may result in a rent increase.
Fees and Taxes:
Transfer fees primarily include taxes, which will be clarified with the lawyer and estimated between €10,000 and €15,000. There is no existing staff to take over, and no alternative sale or lease options are provided.
Financial Information (2023 Accounting):
Booking revenue: €122,718.
Net revenue after commissions: €102,279.
Fixed expenses, including rent, electricity, water, and others: approximately €16,000 per year.
Variable expenses, including cleaning and laundry: approximately €12,000 per year.
Operating Authorization:
The authorization to operate this business is already in place and will be transferred to the new owner during the transfer process.
This is an opportunity not to be missed for investors interested in acquiring a profitable guest house in a prime location. Contact me Sylvia Quelhas for more information and to arrange a viewing!
Equipments
Other
Energy consumption
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This shop/premises commercial is located at Faro (Sé e São Pedro).