Just found this

[soulman]

Oh no! one of my favourites is up for sale.

Hopefully the price will put buyers off,but it's yet another sign that CVO is dying and long established businesses are thinking about moving on.

http://aeiou.bpiexpressoimobiliario.pt/ ... =1&sclick=#

[Gary/Gaynor]

wow the OASIS! eaten there only once but there always seems so popular with families, what a shame, I hope whoever takes it over does it justice, if anyone can afford it in these uncertain times!
Gaynor

[James Faro]

No doubt they need to show the books to indicate how much income it generates.

There may be a legitimate reason why they are selling; maybe the owner is retiring or something?

[shanagarry]

Soulman - that's a sweeping generalisation that is so far removed from reality as to be 'laughable'.

it's yet another sign that CVO is dying

Have you walked down Oxford Street in London recently and seen the myriads of shops boarded up - is London dying? Do you recall the long established Woolworths going to the wall - and has that suggested the cities and towns it operated in are dying? Of course not.

The world is in transition and what went before is no guide to the future - everything we have consumed and used in any way will never return to its former 'glory'.

Royal Mail failed to realise that firstly fax and then e-mail and courier companies would take its business away - BA and its unions failed to prepare for the impact of Ryanair and Easyjet (and others) and so it goes on. The way people on holiday cater for themselves will undergo changes as consumers find less expensive ways to eat - the expensive eateries will have to find more imaginative ways to get to market or be left behind.

Lat year on here we discussed two establishments with 'For Sale' signs above their doors - Round Up and Bradys with price tags of €1.1M and €495,000 respectively - both are still for sale and will not be sold anytime soon. That's not a reflection on the businesses - the sort of money being asked is 'off the scale' and undoubtedly is 80%+ for the Goodwill. If they are to get anybody interested in paying the money being asked - Oasis as well - they need to be realistic with their expectations and remove the 'rose-tinted' glasses to see the way things are in the real world. The days of 'same-old, same-old' businesses being valued at farcical levels have gone and for good.The value in the businesses I have mentioned is in the 'bricks and mortar' and that's not a lot either.

Cvo is not dying - it is undergoing change and once everybody in its commercial world realises that what's gone is gone - the place (and others) will become resurgent again and they will

[shanagarry]

Soulman

I should have mentioned O'Connell Street in your case. I was there three months ago and was alarmed at the numbers of boarded-up shops there - but the place was 'alive' and exciting.

Is Dublin dying - nah! - just like Cvo - realigning for the next big opportunity to come its way.

Have faith

[Canada]

My husband and some friends are going to be devastated if this sale goes through and the place changes.

[shanagarry]

Canada - unless they want to walk away or get into financial difficulty or worse still into receivership - that place will still be for sale for some considerable time to come.

Without any knowledge of their business or its finances - that business is probably a sound investment at €200,000 (including the property).

Yes they have probably put a considerable amount of their time and effort into building its reputation but as soon as they walk out the door - so does the 'goodwill'

[shanagarry]

James

There is no suggestion that the business is being sold for anything other than legitimate reasons - that doesn't alter the over-valuation that is being used to set an asking price.

Regretfully, the general consensus here among property and business owners is that the prices they are trying to sell at are realistic. The reality is that they are so far out of touch with the market that they are deluding themselves into thinking that if they wait long enough the prices will come back to 2007 levels. Nonsense - they never will.

On the lunchtime BBC news there is a report that UK house values are now at 2006 levels and falling. That applies here but most vendors choose to ignore it. The problem in most cases here centres on people who bought between 2005 and 2007 at the top of the market and cannot mentally adjust to coming to terms with the market fall of 30%+ (mid-market). You only have to look in the Estate Agent's windows to see the same old properties month-in, month-out - some reduced but the majority not. I know of one property where the vendor has increased the price in the hope that when 'normality' returns he will get back to where he wants to be. He's in cloud cuckoo land.

The guy's trying to sell their businesses are doing exactly the same - time for a sanity check

[ditzy]

Oh no! We ate here last night and it's safe to say that the ribs are still the best around. The place was packed

[James Faro]

To say that one well-known business that is for sale means that it is the end of CVO is frankly laughable, In that case, when Woolworths closed down and Harrods changed hands ,well the United Kingdom should have shut up shop early!

Carvoeiro is a thriving town and although times were difficult during the main hurricane battering of the financial crisis it still continued to operate.

Whoever eventually buys this Oasis business will probably want to continue with the same food selection and service. To completely overhaul it is a risk - that risk may pay off or may not! I wish them loads of luck for a prosperous business.

On a business level I would prefer to build or buy a villa and let that out though a variety of sources(ie: own website and through agencies etc).

- J

[SAM SPARKLE]

Mention Oasis and the first thing people say ''Oh the Ribs'', take the Ribs away and its pretty ordinary.

[shanagarry]

James

On your last point - renting through agencies - think again. If you are prepared to give up a very large proportion of your income - carry on. We rented for 5 years but stopped doing so three years ago - it was a pain as we had to plan our holidays around clients and putting your stuff away every time you left was inconvenient. Since moving here and having the spare property we have made it available for rent again.

I decided to do it all myself by building a website and handling every enquiry and booking, used our management company to make sure the maid, gardener and poolman were taken care of and did very well as a result. I toyed with putting the property with a well known agency this year and was 'gob-smacked' when I received their tariff. As an example I charge and get £1,500 per week in August - through the agency £850. Fortunately I have picked up a lot of last minute business plus some from longer standing clients from the earlier days - all at sensible prices.

As a slight aside we have picked up 3 bookings from people who have turned up to properties that they have found to be unacceptable and insisted the agent find them a place that is in keeping with the one they were told they were going to holiday in. I have heard of other similar stories and wondered if the owners are cutting corners and not decorating/maintaining as they would previously had done. That's another point to consider James - making sure you keep the place in tip-top condition and that has a cost - if you don't.

Think long and hard about using an agency - or negotiate yourself a sensible deal - better still - do it yourself (that way you get to vet the people who will be staying in your property) and build a relationship with them.

Good luck

[paulam]

OMG I Loved that restaurant... hot Tomato Soup..
Will miss that place....
Somebody please buy it so we can all eat the best food...

[shanagarry]

Soulman

Look what you've done - you've frightened the 'shite' out of these people who believe Oasis is on the brink of closing down.

If Carvoeiro is dying - there's a lot of people coming to the 'funeral'

[widge]

As an example I charge and get £1,500 per week in August - through the agency £850. Fortunately I have picked up a lot of last minute business plus some from longer standing clients from the earlier days - all at sensible prices.

Shanagarry,
Wow assuming the agent was going to charge at least €1500 per week that's a mark up of 76%. I wonder how typical that is Can you also attract private clients between May June & September October Were their costs involved in building your own web site Ever thought of collaberating with other villa owners