€3,500,000 [Ref. No. P8726]

Paphos, Kato Paphos
€2,306 per m²
16 Bedrooms
Covered: 1,518m²
Plot: 1,419m²

FOR SALE - €3,500,000 - REF NO. P8726

16 Bedroom Hotel in Paphos, Kato Paphos

The hotel is located in the heart of Kato Pafos, within easy walking distance from all amenities. 150 meters away from the nearest sandy beach and only 800 meters away from the picturesque harbour and the UNESCO archaeological site. The property is well connected with public transport and it is within 25 min from Paphos Airport.

Property Information:

Property was built in the 1980’s.   It’s fully licensed by the Cyprus Tourism Organization to operate as Hotel Apartments category B.  The hotel was closed in 2010 due to owners retirement. Recently the owners have received new licence Category Lux convert it into All Suite Boutique Hotel. The new architectural plans for renovation consist of 16 suites, breakfast area, restaurant and coffee shop, exhibition hall, gym and wellness  centre, games area, terrace and swimming pool. First and second floor will accommodate 8 suites, There is also the potential of using roof.  THE PROPERTY IS FREEHOLD.

Hotel Characteristics:

  • In need of renovation
  • All licenses obtained for renovation and extension
  • Close to the harbour and beach
  • Excellent location

Airport: 30 min Drive
Communal swimming pool
Sea views
Please note that property locations are approximate

Kato Paphos

Buying here proves to be highly lucrative as an investment as it is a great option for short term rentals. Tourists here could easily get by without having to rent a car having many bus stops around. The airport is only a 15 minute drive away and the closest golf course just a 10 minute drive. Prices are higher rent wise than other areas due to the convenient location and all surrounding businesses. Although Kato Paphos has mainly older buildings of which most are apartments, some new developments include Limnaria Gardens by Leptos and Naia Seaside Project by A.G&G making the capital appreciation high in years to ...

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