If you’ve not yet come over then I suggest you do so to scout around, especially on the area. While theres a huge amount of ex pats in Torrevieja, its not the nicest place in the world to live, and while everyone has the dream of running a bar in Spain, the reality doesn’t always live up to the dream.
At the moment all up and down the Costa Blanca theres a huge amount of bars for sale. Ones on the coast rely on seasonal trade, so you need a good business head on you, to put money away in the busier months for when the quiet months (like Jan and Feb come along). You also need one which will have other means of pulling people in, like darts, snooker, karaoke, live music, pub quizzes etc, to make sure you can keep the people who live there coming in on a regular basis.
You might be better off looking somewhere not so reliant on tourists….I’m sure your rent can’t be what you typed…and I’d also HIGHLY recommend you leanr spanish, even though your clientele might be english, the suppliers will appreciate you making the effort, and you’ll have the technicalities of the license etc to sort out.