Anna's - Albufeira's Best Known Restaurant - Very Profitable - Europe Restaurants Property For Sale Or Rent at BestRealEstatePlanet.com

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Property For Sale Or Rent: Anna's - Albufeira's Best Known Restaurant - Very Profitable

Portugal

Rua Nova 7
Albufeira
Albufeira
Algarve 8200
Portugal

Property for sale: 500,000 € (Negotiable)

Restaurant For Sale in Albufeira, Algarve Portugal

ANNAâ€™s RESTAURANT

A PROFILE
Number 7, Rua Nova, Albufeira, became a restaurant in 1965 when a young Dutch ex-patriate and her partner bought and converted the property.
Now, close to 40 years on, the restaurant has been restored and upgraded and, probably, bears little resemblance to its original form.

ANNAâ€™s RESTAURANT

A PROFILE
Number 7, Rua Nova, Albufeira, became a restaurant in 1965 when a young Dutch ex-patriate and her partner bought and converted the property.
Now, close to 40 years on, the restaurant has been restored and upgraded and, probably, bears little resemblance to its original form. The one constant in its history is a reputation for quality food and service, goodwill that extends to the many tourists who have visited Anna=s Restaurant over the years. Today, Anna=s is recognised as one of the finest restaurants in Albufeira, dedicated to serving a menu of Internationally-based dishes to a discerning tourist community.
Fatima and Geoff Cook acquired the property and business in 1996. During the intervening period, the reputation of Anna's has thrived on the strength of a diversified, original menu and a stable, competent workforce. Our comments book is a testimony to this reputation and a search on the Internet has proved a source for many new clients.
After seven interesting and stimulating years, Fatima and Geoff are looking to a retirement sale and the prospect of seeing Anna=s further development under new and energetic ownership.

THE PROPERTY

Number 7, Rua Nova is a freehold property and a three storey conversion of an old fisherman=s cottage. The overall area is 100m2 with the capacity for 46 covers at a single sitting.
The ground floor comprises an outside terrace, the space for which is rented annually from the Albufeira Council. The terrace seats 12 clients and is fully enclosed and weatherproofed.
Inside the building is a reception bar, front of the house preparation and cleaning areas and a fully equipped, air-conditioned kitchen.
The gallery floor provides seating for a further ten clients and houses the toilet area.
The second floor, with its ocean and town views, is fully air-conditioned and seats 24 clients at any one time.

The property is fully licensed as a restaurant and satisfies all local council requirements. There has been a constant policy of improvement and modernisation during the period of current ownership.

THE BUSINESS

Anna=s operates throughout the year for the dinner trade only and closes one day per week, although seven day per week trading has been operated at various times based on staffing levels and availability.

The restaurant operates throughout the year, closing during January and early February only for staff holidays. Low traffic months are November through March - although the business trades well over Xmas and New Year. The high volume, quality trading months are April, May, June, September and October. The summer is busy with families. The maximum number of covers handled during a dinner sitting has peaked at 84. Summer averages vary between the mid-fifties and mid-sixties.
Almost all of Anna=s trade is with overseas tourists, principally clients from the UK, Irish Republic, Germany, Holland and Scandinavia. Menus are available in five languages.
The owners apply a pricing policy, which is geared to the middle/upper middle markets and produces high profit margins. The Gross margin (sales less food and beverage costs) currently runs at over 70%. The average sales revenue per client reached i30 in 2003. Net profit margins are also high and a full month-by-month trading comparison over the last four years is available to serious enquirers on a confidential basis.
Despite the various International upheavals and distractions over recent years, the trading pattern has remained remarkably consistent and the proprietors can only see this improving if tourism and travel begin to return to pre-9/11 levels. Scope also exists for additional sales volume through lunchtime opening and seven day trading.

PERSONNEL

Anna=s operates with between five and seven staff members, dependent upon volume levels. A basic team of three kitchen staff, washer-up and between two and four front-of-house employees are required. Preparation assistance is also required during the summer months.
As Anna=s operates on a year round basis, key staff members are retained on permanent contract arrangements. Seasonal contracts are given to other employees. One employee is also given responsibility for daily shopping, for which a vehicle is made available.
The proprietors maintain supervisory functions.

Property Summary