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Hello everyone. I just noticed that the Sunset Grill on St Croix is up for sale. Didn't that just get sold in the last year or so? I'm curious as to why the owners are selling. I own two restaurants up here in Philadelphia and one day soon would like to sell both and possibly purchase a beach bar/restaurant like this one. Any information would be appreciated. I like the openness and honesty on this board and figured this would be the best place to get this information.
Thanks,
Lou
Posted : October 7, 2006 5:47 pm
When the Sunset Grill last went up for sale, ONE of the two owners wound up selling his share of the restaurant to a buyer and the other owner kept his share. It never really came totally off the market, because the second original owner was still somewhat interested in selling out. Restaurants and beach bars in the islands quite often sell and re-sell and then sell again. There are a few places that stay in the same hands for many years, but that is the exception rather than the norm. The one thing in Sunset Grill's favor has been that despite the partial change in ownership last year, they continued to serve very good food. A lot could be done to improve the physical structure of the restaurant. It has a good location and its customer base will only improve over the coming years as the planned development projects in the west end become a reality. Sunset Grill is only available as a business opportunity. The business leases the land and building from a landlord. A buyer would be wise to make an offer conditional upon successfully negotiating an acceptable long-term lease with the landlord to protect the viability of the business being purchased.
Posted : October 7, 2006 6:08 pm
Topic starter
Alexandra,
Thanks for the quick response 🙂
Lou
Posted : October 7, 2006 8:27 pm