Attractive Hotel and Business Opportunity with 76 Bedroom Suites and 13 shop units in Paphos, Cyprus
7,700,000 EUR 6,622,000 GBP 8,470,000 USD
REF: 196851 Show Map
- Bedrooms: 76
- Bathrooms: 76
- Plot Size: 0.24 hectares / 0.6 acres
- Work Required: None
- Swimming Pool
- Income Potential
- Air Conditioning
- Parking space(s)
- Building Consent / Planning Permission
PRICE REDUCED - Excellent opportunity to purchase a successful hotel in a prime location between the seaside tourist area and the Old Town of Paphos. At present the hotel has 76 bedroom suites, a beautiful swimming pool, and 13 shop units in an established district in this popular resort.
However there is permission to expand the hotel to create a further three floors.
Profitably run by the current owner for more than 16 years, the hotel has great potential to further increase its returns with permits and architects plans for an additional 4 floors. This area of central Paphos is currently undergoing a thorough redevelopment which will further add to hotel's desirability.
The bedrooms are found on the first 3 floors and each of the 76 en suite bedrooms is in excellent condition and is furnished to a very high standard with full air-conditioning and central heating for the winter months, en-suite bathroom, hair dryers, room safes, shaving sockets, 24" LED flat screen TV with many English satellite channels, direct dial telephone and a private balcony offering excellent sea or town views .
The hotel is fully computerised and includes separate offices for management.
The lower floor includes a fully equipped kitchen, restaurant/ coffee shop/ pool bar, conference room, staff dining facilities, laundry and technical areas.
The ground floor includes an extensive lobby and reception area, restaurant and bar.
Outside, the hotel comes with a large swimming pool, children's pool, terracing and car park.
The 13 retail units offer considerable additional rental income.
Paphos is a popular tourist destination and retains much of its original beauty and character, whilst offering considerable potential and the necessary infrastructure to accommodate further development. The completion of the new motorway to Paphos, the recent road improvements and the anticipated new marina and the upgrade of Paphos International airport are making Paphos an increasingly attractive option for the investor.
Please contact us for full details and financial returns.
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