Building for Sale in Paphos

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€600,000 EUR

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Ref 2075558 | Paphos, Paphos | Building

Currency services provided by Excel Currencies 600,000 EUR  |  Approx.£516,660 GBP  |  Approx. US$642,120 USD
Paphos Town, Paphos, Paphos
  • Type: Building
  • Location: Paphos
  • Province: Paphos
  • Country: Cyprus
  • Bedrooms: 0
  • Bathrooms: 0

The property is located right in the heart of the cultural, entrepreneurial and creative activity of Paphos. Its location is withinthe center of the historical city and could easily be established as a dominant choice for both businessmen, locals and tourists.The mayor of Paphos and the president of the joint municipality, trade, traditional market and commercial area committee presented the plans to upgrade Paphos old town where the office building is locatedwhichwill begin atthe beginning of 2015. A substantial amount of funding is being approved from EU as a part of the structural funds allocated for thePafos 2017 European Capital of Cultureaward. According to the President of the joint municipality,Makariou Avenue in Paphos and othersmall roads leading off this street will be turned into pedestrian areas. Property Characteristics:The property has a valuation from the bank in 2013 foreuro1,000.000BUILDING COEFFICIENT: 180%COVERAGE COEFFICIENT: 140%Storey: 4Max Height: 13.10mCan build up to 852m2 Covered Areas plus VerandasOffices (Ground Floor)3 bedroom apartment (First Floor)An additional 2 floorscan be builtThe building could be turned into 17suite hotelThe owner will rent back the property5% yearly from the selling price (bank guarantee)

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