Gibraltar Retirement...NEED HELP!

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Member since 04 April 2011

davidbrowne89Member04 April 2011 20:33:51

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.

Armand ViP

Member since 23 February 2011

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ArmandViP05 April 2011 05:59:17

24785

Hello and welcome on the forum David

I hope other members in Gibraltar will be able to give you more information and advices soon

Regards
Armand

Glint New member

Member since 20 April 2011

GlintNew member20 April 2011 07:30:26

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 £1000-£1900 per month (depending on size and location);
Rates £1000-£2000 per quarter;
Lease transfer (if applicable) from £20,000 to £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. £1200 per month plus bills (ca. £150)

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