Successful family restaurant business, selling due to the retirement of the owners

Successful family restaurant business, selling due to the retirement of the owners. Frequented by many locals and expats on a daily basis. Close to arenal beach, with a large terrace. Sold as a freehold property. Offering, kitchen, bar, bathrooms, terrace, and restaurant dining area. Highly recommended. Alternatively, you can pay a 70,000 euros traspasa/transfer and rent for 1300 a month in rent.This is a guide to the complete and full costs of buying a €475,000 resale commercial property (bar) in Alicante, Spain.WITHOUT mortgage:Purchase price €475,000 + Property Transfer Tax (ITP 10%) €47,500 + Notary fees approximately €1,500–€2,500 + Land Registry fees approximately €1,000–€1,500 + Lawyer / conveyancing fees approximately €4,000–€6,000 + Optional administration / gestoría / NIE costs approximately €500–€1,000 = total estimated purchase cost approximately €529,500–€533,500.WITH commercial mortgage:Purchase price €475,000 + Property Transfer Tax (ITP 10%) €47,500 + Notary fees (purchase) approximately €1,500–€2,500 + Land Registry fees (purchase) approximately €1,000–€1,500 + Lawyer / conveyancing fees approximately €4,000–€6,000 + Optional administration / gestoría / NIE costs approximately €500–€1,000 + Mortgage valuation fee approximately €500–€800 + Mortgage notary & registry fees approximately €700–€1,500 + Bank arrangement / opening fee approximately €0–€2,000 = total estimated purchase cost approximately €531,700–€540,800.Estimated cash required at completion with commercial mortgage:50% LTV loan (typical conservative lending): approximate cash required €280,000–€288,00065% LTV loan (upper range if bank offers higher): approximate cash required €194,000–€202,000Disclaimer: This is for guide purposes only and does not constitute the final offer, which is dependent on an individual buyer’s situation, and does not include any discounts or enhancements given.