668sqm converted boutique hotel in nicosia city center
The property relates to two adjacent listed houses, located in the heart of Nicosia, within the Venetian walls on the corner of Aischylou and Sapfou streets. The asset is near Famagusta Gate, within walking distance t Eleftheria Square and Onasagorou street.
House no.1 (Plot No. 261) consists of four (4) bedrooms and two (2) baths with total built area ofapproximately 250sq.m arranged over two (2) floors and including two (2) uncovered verandas. It wasoriginally built in 1893 and was fully restored and renovated in 1997.
House no.2 (Plot No. 68) is comprised of one level with total built area of approximately 418sq.m, originallybuilt in 1896.
A planning permit has been secured for the development of a boutique hotel comprised of 16 rooms. The building permit has been submitted with the local authorities and is expected to be issued by the end of September 2024. The envisaged development features a restaurant area on the ground floor allowing for Food and Beverage income as well.
Ideal investment opportunity for a unified hospitality/residential/student residences project with possible government subsidies.
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Technical inspection:HOME CHECKandreas.chrysos@hotmail.com+357 96 504 296
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Legal inspection:M.PARASCHOU LAW Advocates & Legal Consultantsinfo@paraschou.com.cy+357 22 622 262
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Technical inspection:HOMESURVinfo@homessurv.com+357 22 377 004
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Legal inspection:CTA LAW FIRM C.T. Antoniou & Co LLCinfo@ctalaw.net+ 357 22 516 838
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Technical inspection:SQUARE ARCHITECTSp.panayi@cytanet.com.cy+357 99 592 218
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