€2,200,000 $2,447,158
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Pay in USD and save up to $85,651Key features
- Listing ID: 1502890 (480031017_1137)
- Plot: 478 sqm
- Air Conditioning, Modern, Near/On Sea, Parking, Sea View
Description
The building is located in the center of Limassol, in the Agia Trias area within 2 minutes' walking distance to the beach, close to shops and amenities, and with easy access all around the central town.
It sits on a plot of 478 sqm and has a total covered area of 340 sqm ( of which 257 sqm is the area of the listed building and 86 sqm is the area of the new building).
The building may be converted to a boutique hotel, and all architectural drawings have been already submitted and the planning permit is expected within 2 months enabling the conversion of the building to a hotel.
The property will feature a modern interior design but will maintain the traditional character of the property.
The property is currently used as an office, is in good condition, semi-furnished, and has electricity and water.
Benefits of obtaining a preserved property: It has zero (0%) taxation and every few years an application for government sponsorship can be made for renovations up to 50%.
•The sale price for this project:
- €2,200,000 in its current stage, (with the approval from the government to execute renovation works which gives the
possibility to obtain sponsorship) is
- €2,800,000 in case the Investor wants to obtain it with the renovation option as offices
- €3,500,000 in case the Investor wants to obtain it with the development option as a Boutique Hotel
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Buying expenses
Stamp duties is tax paid by property purchasers to the land registry when the property sales agreement is registered with the land registry. Transfer fees paid by property purchasers to the land registry when the title deed of the property is transferred to their name.
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