Commercial Properties for Sale in Cyprus

LOCATION
* The property is located in Agios Dometios Municipality, Nicosia District under Land Reg. No. 2/1723.
* It has a road frontage on Laertou Street and is located within walking distance to Nicosia Race Club (horse racing), approximately 1,2 km of The University of Nicosia
* The immediate area of the property is mainly characterized by mixed-use development such as apartment buildings, banks, shops, offices, supermarkets, and general services.

TENANCY
* Vacant Possession

ZONING
* The property falls within the Residential Zone Κα4 which allows for 120% building density, 50% building coverage, 3 floors and up to 13,5 meters height.
* The property is eligible for Government incentives. For more informationclick here [https://www.moi.gov.cy/moi/moi.nsf/All/31C60A18C2CE1F3EC2258597001F14AB?OpenDocument]

ACCOMMODATION
The property was not internally inspected or measured by BidX1. The information was provided by the Vendor. We are informed that the property provides:

* 1 x 2-bed apartment (101 sq.m.)
* 1 x 3-bed apartment (extends to approx. 186 sq. m. of enclosed area and 31 sq.m. covered verandas
* 2 x shops (43 sq.m. and 41 sq.m. respectively)
* We are informed that the building area extends to approx. 371 sq. m. of enclosed area.
* Interested parties are recommended to undertake their own inquiries to confirm property measurements.

ADDITIONAL DETAILS Shop no.143 sq.mShop no.241 sq.mGround Floor Apartment101.sq.m2 BedroomsUpper Floor Apartment186 sq.m3 Bedrooms x ADDITIONAL DETAILS
Shop no.143 sq.mShop no.241 sq.mGround Floor Apartment101.sq.m2 BedroomsUpper Floor Apartment186 sq.m3 Bedrooms

VAT
VAT not applicable – Interested parties are exclusively responsible to verify and/or ascertain whether the sale of the Property is not subject to VAT.

The hotel is known as “Royiatiko” and is located in Trypiotis area. It is situated on the corner of Apollonos Street within the walled city of Nicosia, 60m from Ledras Street. The location of the property is one of the most tourist areas of Cyprus which consists of restaurants, shops, and hotels. The hotel has good external appearance, physical condition, and maintenance.

It has a land area of 777sqm. It has a total capacity of 33 rooms and consists of 4 floors (a ground floor and 3 floors above), plus 2 basement levels.
The hotel has an internal covered area of 1,340sqm, 92sqm of covered verandas, 1,243sqm of basements and 100sqm of bar situated in its southern part.

The ground floor consists of the reception area, a sitting area, 2 office rooms, a restaurant with a bar, and a kitchen. The 33 rooms are situated on the floors above. On each floor, there is a special room for persons with disabilities.

The outdoor areas consist of a guest dining area, a swimming pool, outdoor showers, a bar, and a storage area. Also, there is a separate bar which consists of a single dining area with a bar, guest and staff toilets and a storage room.

Basement level 1 consists of a gym, toilets, changing rooms, storage rooms, office, E.A.C. substation, and staff room. Basement level 2 consists of 20 covered parking spaces and a storage room.

The hotel falls within the planning zone EZ-EN.
The plot with parcel number 96 falls within the residential zone KΑ-Α.
The plot with parcel number 163 falls within the commercial zone EZ-EN.
The plot with parcel number 94 falls within the residential zone KΑ-Α (30%) and within the commercial zone EZ-EN (70%).

Owner of the Hotel: Heritako Limited (Gordian SPV)
Owner of the plots: Afosinio Limited (Gordian SPV)

Offer Submission Deadline: Monday 29 July 2024 at 16:00pm