Hotel Apt Business In Larnaca Sea Front Area For Sale

Business description

A well established operational hotel apt business is on offer. 21x 1 bed room apartments in good condition and incorporates a supermarket and restaurant. The restaurant can cater for 90 covers inside and 120 outside. Pool area and in a prime location.

There is a basement of 550m2 and this can be utilised as a conference / Gym centre. It has all licences by CTO and will also benefit by a CTO grant of approx 30% of the costs for any refurbishments carried out.

This is a fantastic investment opportunity in a prime location. It is priced to sell, freehold, vacant possession and with TITLE DEEDS.

A Finders Fee is payable for this deal on completion.

Further details and viewing provided to qualified buyers ONLY.

Property information

Real Estate:

Real Property Included

Location:

Located in a prime tourist location In Larnaca sea front area just a few minutes walk to the beach. It is amongst all the amenities and has much passing trade being located on the main holiday strip.

Premises details:

The property was built in 1984 and is a well established family run business, owner wants to retire and hence disposing of this facility. It is built on a plot of 1,747m2 (with Title deeds) and has some 1550m2 covered area.
This popular holiday venture has its own supermarket / souvernir shop together with a restaurant and associated catering facilities. All CTO licences are in place and it is an instant revenue stream.

Size in square feet:

17,470

Planning consent:

All plannig permits in place.

Business Operation

Expansion potential:

In future the planning zone is predicted to change with a greater build density, thus enabling additional floors to be built over and above the current structure. Larnaca is expanding rapidly, with the New proposed Marina update, the Tersefanou golf course and a huge array of other project in the pipeline.

Reasons for selling:

Owner Retiring

Years established:

26