Hotel Apartment For Sale in Protaras, Famagusta

The hotel is located in the touristic resort Protaras, which has been a favorite destination and attraction for hundreds of thousands of tourists annually. A great investment opportunity just 450 meters from the beach. Located in one of the best touristic areas within walking distance from shops,restaurants, entertainment facilities, bars, clubs, supermarkets, bus stations and other amenities. 46 open plan studio Apartments with twin beds, each unit sleeps up to 6 people.

Includes kitchenette, refrigerator, bathroom with WC, air-conditioning, telephone, radio, cooking-stove, etc. Swimming pool, lobby, offices, restaurant, tennis court, gardens, storage, parking space.

The hotel for the last 25 years has been successfully rented out and operated by a chain of hoteliers having a stable annual income which secures a safe return on investment for the new owner/investor in case preferred not to be operated independently. The hotel is in a fairly well preserved condition with aesthetic renovations executed on a regular basis having recently changed elevators, refrigerators, mattresses, curtains etc.

The rooms can be transformed into hotel rooms alternatively to studio apartments that will offer double the capacity that it currently does. The plot is appox. 5000m2. The hotel is fully booked from the first day of its operation as a budget hotel.

There is a 20% additional building permission meaning that the new owner/investor has
the possibility to build immediately 25 more units and another 20% building permission
that can be further bought from the government.

Total sqm : 2760

Price per sqm : 2,101 euro

 

Air Conditioning, Balcony, Bus Stop Nearby, Communal Swimming Pool, Covered parking>Parking, Easy Access to Motorway, Elevator, Guest Toilet, Internet Connection, Master Bed En-Suite, Mature Landscaped Gardens, Pine trees around, Quiet Location, Relaxation areas, Restaurants & Cafeterias nearby, Sea Views, Shopping Area Nearby, Shops & Amenities Nearby, Storage Room, Store room, Sunset views, Telephone lines