Gibraltar Retirement...NEED HELP!

1POSTS

15 years ago

Hey all,

Name's David and I'm still at university at the moment. I'm researching on behalf of my parents - due to their lack of computer literacy - information about moving to Gibraltar. They are retiring and looking to go back to Gib permanently.

They're looking to run a small delicatessen/bistro/cafe with bar and outdoor dinning facility so would therefore be looking to find somewhere to set up this small business.

The information we would like to get feedback on is:

1) Does anyone know of such a cafe/bistro that attracts customers and receives good business?

2) How much would it cost (roughly) to say rent out a space in order to start up the shop?

3) Is there a large enough customer base in order to build a comfortable and sustainable business in order to survive financially in the first few months, say?

4) Rough cost of buying/renting a house preferably on the west side along Queensway?

Excuse the bombardment of questions, and I hope you have some advice to give us.

Regards,

David.

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Glint New member

5POSTS

15 years ago

Hi David,

1. From observation, cafes have a lot of business during Summer because of tourists, but October - April seem to be quieter months and they need to be prepared for little income then.

2. To rent out any property in Gibraltar is quite expensive, while commercial property is rarely available. I would estimate the costs would be:
Rent 拢1000-拢1900 per month (depending on size and location);
Rates 拢1000-拢2000 per quarter;
Lease transfer (if applicable) from 拢20,000 to 拢100,000: one off payment;

You can see some current premises on the market here:
bfagib.com/commercials.asp

3. If they start in late spring months, depending on location they would probably make the ends meet in the first few months.

4. There are not many houses in Gibraltar - a comfortable one bedroom apartment would cost approx. 拢1200 per month plus bills (ca. 拢150)

I trust it sheds some lights on the issue, good luck!

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