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Tourist complex in Polis Chrysochous, Paphos

Ref No: 8477

€ 4,500,000

Description

The property is an 84% share of a tourist complex named 'Nicki Holiday Resort' in Polis Chrysochous. It is located in the outskirts of the municipality, 1,5km from Latsi harbour and 1km from the center of Polis Chrysochous. Polis Municipal beach is also within walking distance. The property abuts Akamantos Avenue, which is the main coastal road of Polis with a frontage of 175m.

The complex comprises 10 blocks of entirely furnished apartments (a total of 125 units), two restaurants, two shops, a lounge area, a tennis court, a children's playground, two outdoor swimming pools, and auxiliary space in the basement.

Gordian owns the 1675/1992 (84%) share of the whole project which corresponds to 97 apartments, two restaurants, two shops, a lounge area, restaurant auxiliary spaces, a children's playground and share of the communal areas.

The complex was built in two phases; blocks 100-300 were built in 1990 and the rest of the blocks in 2001. Block 800 has been sold, along with the 11 apartments from blocks 200, 500, and 600.

The property can be operated as hotel apartments. It is an ideal opportunity for investment with potential high rental income.

Owner: Belusen Limited (Gordian SPV)

Main Features

97 Rooms
97 Baths
27
VAT
No
Occupancy Status
Vacant
Status
For sale

Other Features

Land Registry

District
Paphos
Community
Polis Chrysochous Municipality
Quarter
Polis Chrysochous
Reg. No.
0/11020
Sheet/Plan
26/50
Parcel
206
Zone
T3Δ3

Areas

Covered Area
5,395 m2
Total area
5,568 m2
Land area
11,260 m2
Covered verandas
173 m2

Further Features

Rooms
97
Baths
97
EPC
Energy Class G
Year of construction
2001

Town Planning

Town planning zone
Tourist
Building density
30 %
Coverage ratio
20 %
Max floors
2
Max height
10 m
Shared
Yes
Shared percentage
84 %

Legal disclaimer

The asset was acquired by Gordian Holdings Limited within the restructuring framework provided for in the Cyprus tax legislation. We recommend that you seek independent advice regarding any applicable property transfer fees.

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