Description

This asset is an active Hotel, in Kato Pafos. The Hotel was built and operating since 1995 and renovated partly some years later. Situated in four privileged plots with a total surface of 3785 sq.m., in the heart of Kato Pafos, the asset consists of the ground floor with Shops, the basement, the first and second level with Studios, One- and Two-bedroom apartments, the Swimming pool (130 sq.m.) plus children swimming pool with a Poolside Bar and an open Gym, a mature Garden(300 sq.m.), the parking area (30 parking spaces) and a 1968's Old House of 120 sq.m., that provide a total surface of aprx. 2600 sq.m., in a land plot of 3785sq.m.. Each apartment has one bathroom and is fully equipped. Further more there is a a common use area of 1000 sq.m. (reception area, lobby room, restaurant, bar and lounge area). The hotel represents a unique investment opportunity, situated in the heart of the tourist area in Kato Pafos, 12 mins walking distance from the beach and the Ancient Fort of Pafos and 20 mins walking distance from Kings Avenue Mall. Near the southwest coast of Cyprus, and 750 meters northeast of the small harbor of Kato Paphos and the Municipal Baths. The area of Paphos is one of the most attractive and popular tourist resorts in the island, enjoying a subtropical-semi-arid climate and a rapid economic growth in all fields. The investment offers significant capital appreciation prospects and a potentials for stable income yield.