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Hotel Apartments - Commercail For Sale

Hotel Apartments - Commercail For Sale

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Property ID: 7323
Current Price: €3,500,000.00
Current Status: Available

Region: Paphos
Location: Kato Paphos
Floor Space: 1518 Covered Area m²

The hotel is located in the heart of Kato Pafos, within easy walking distance from all amenities. 150 meters away from the nearest sandy beach and only 800 meters away from the picturesque harbour and the UNESCO archaeological site. The property is well connected with public transport and it is within 25 min from Paphos Airport.

Property Information:

Property was built in the 1980’s. It’s fully licensed by the Cyprus Tourism Organization to operate as Hotel Apartments category B. The hotel was closed in 2010 due to owners retirement. Recently the owners have received new licence Category Lux convert it into All Suite Boutique Hotel. The new architectural plans for renovation consist of 16 suites, breakfast area, restaurant and coffee shop, exhibition hall, gym and wellness centre, games area, terrace and swimming pool. First and second floor will accommodate 8 suites, There is also the potential of using roof. THE PROPERTY IS FREEHOLD.

Hotel Characteristics:

In need of renovation

All licenses obtained for renovation and extension

Kato Paphos or lower Paphos is the most popular area in the Paphos district. Upper Paphos is known as Paleo Paphos or Old Paphos. Kato Paphos is home to popular hotels, bars, restaurants, cafes, beaches leading to the harbour with the Old Fort or Castle from the 13th century.

A great tourist attraction with nice walking paths, the lighthouse, the House of Dionysis that houses the Paphos Mosaics and other archeological sites such as Saranta Colones and St. Paul's Pillar that make it a unique and interesting place to visit or live. Paphos has a long and obscure history and naming Paphos is anything but simple. Originally, the town, Palaea (Old) Paphos, was sited where Kouklia village is now, some 7km to the East along the coast.

Close to the harbour and beach

Excellent location

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