Lagos municipal company Futurlagos has finally closed the deal on three of the four riverside bars that caused much furore when it was declared they would steal business from the rest of the town’s nightspots.
As a parting salvo after 12 years on the job, outgoing Mayor Júlio Barroso proposed last year that the new bars would be open every night until 6am, at the same time saying the rest of the town’s nightspots would need expensive sound-limiting equipment if they were to extend opening hours after midnight.
Rent for the riverside bars, located on the roof of the underground car park at Avenida dos Descobrimentos, was set high in 2012, with down-payments for ‘keys to the doors’ set at over €200,000 per unit.
However, not only did citizens fight the moves – saying they contravened the laws of fair trading – but no one came forward who could satisfy the council’s high-rolling terms.
Now, many months down the line, a streamlined deal has been cut with “foreign investors” and incoming tenants have been spared of all rental payments for a year.
The concessionaries will pay €100,000 and a monthly rent of €2,000 – although they are exempt from payments for the first year.
Announcing the 30-year deal with Cunning Planaqua – Actividades Náuticas, Lda and New Paradigm – Investimentos Imobiliários, Lda, Lagos mayoress Joaquina Matos said that the new leisure spots “should open by Easter”.
