Great Existing Business In Lagos

Description

Ideally situated just off the N125 with lots of passing trade, nestled between the tourist hotspots of Lagos and Luz, this established, family run, restaurant with bags of Investment potential.here lies a tremendous opportunity to invest in the thriving Algarvian hospitality industry. Numbers are already back to post Covid levels and dozens of new developments are currently under construction in Lagos and Luz. In May the European Commission estimated that Portugal's growth in 2022 will be the most significant in all of Europe, with inflation estimated at well below the European average. The building is equipped with bar area, dining room, spacious beer garden / terrace, exceptional kitchen and annex currently utilised for storage but could easily be used as an office, live-in space or a modest rentable option for guests.In a position of high visibility, and close by to the roundabout - ensuring a steady flow of vehicles traveling at low speed - the location is of a highly desirable nature. The N125 is essentially the only road connecting the Western Algarve. The highlights of the West including glorious beach towns such as Salema, the rugged beauty and surfer's paradise of Sagres, the wild unspoilt scenery of the huge National Parks, and access to the under-explored Western 'Silver' coastline. Thus the road provides a consistent tourism artery of trade, along with the large expat community of the area all but guaranteeing a brisk business.There is also a development of 10 Villa's awaiting approval on the plot of land almost next door - suggesting more local clientele through the doors.Upon entrance through the porch the welcoming bar area awaits with a decor of charm and personality. Large and airy and boasting a suitably sturdy hardwood bar and stools, as well as cosy tables this section gives way through an open plan to the main dining room.The traditional floor tiling is an original feature and permeates throughout. Also of note are the beautifully crafted wood ceiling fans, providing a steady, cooling breeze.The impressive fireplace dominates from the far corner of the room, as grand as it is imposing. Stretching along the far side of the restaurant are three large sliding patio doors, providing both access to the exterior and encouraging the natural light to flourish.The his' and her's guest bathrooms are both clean, modern and functional.The double, swinging doors lead into the stunning, enormous kitchen. Truly a chef's playground, the facilities and size of the kitchen are grandiose indeed. Completely kitted out to a high standard and of a perfectly structured layout this kitchen has all the modern amenities, complemented with state of the art pizza oven and so much more.The back end of the kitchen incorporates an old style pantry - doubling up as hallway access to behind the bar, invaluable when the bar is full of guests!The kitchen also has doored access directly outside to the beer garden / terrace, continuing the practical and free flowing design of the property.The pleasant beer garden is for the most part, blessedly shielded from the sunshine. Tastefully adorned with nice floral arrangements and seating-plan, there is much that can be created in this space. At the end of the terrace a turn to the right brings you to the off street parking, between the side of the main building and the annex. Consisting of 3 moderately sized rooms and bathroom with shower - this extra feature could be quite easily facilitated as a live-in cottage for whomever, or as a short term rental option such as a B&B.The Investment potential here is obvious, and also can be tied in to the Portuguese Golden Visa program.The property's location is in a quaint old town popular with the expat community.Nearby points of interest include -Praia da Luz, with it's World famous beach, is only a 7 minute driveLagos centre, with it's cosmopolitan nightlife and renowned restaurants is within a 14 minute drive. Lagos is a vibrant (small) city, boasting beaches, bars and boutiques. Currently undergoing an upsurge in tourism, all the necessary amenities can be found here such as Hospitals, Dentists, Sports arenas and clubs, Admin centres, banks and transport hubs (Bus and Train) connecting to Lisbon and the entire Algarve.The beautiful Marina of Lagos is also to be found here.Multiple beaches within a 10 minute driveSchools including the Barlovento International Primary School and Centro Escolar da luz within 6 minutes driveSupermarkets and other amenities such as doctors, dentists and post offices are just 6 minutes drive in Luz5 of The Algarve's World famous golf courses are within a 10 minute drivePW3027* Beds: 2* Baths: 3* m2: 231* Price Per m2: 2,142.86€* Lot Size: 132 m2* District: Luz* Type: Commercial* Property ID #: PW3027