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Building
Limassol Municipality, Limassol

€4,500,000  ($5,205,068)

Smart Assets Real Estate

Smart Assets Real Estate

Reg. No: 1109 | Lic. No: 317/E

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BuySell Cyprus Real Estate offer on property will expire soon
In high demand!
Compared currency flag Pay in USD and save up to $182,177

Average Bank Rate (€4,500,000)
1 USD = 0.8353 EUR
$5,387,246

Mid-market rate (€4,500,000)
1 USD = 0.8645 EUR
$5,205,068

All figures are live mid-market rates, which are not available to consumers and are for informational purposes only. To see the rates we quote for money transfer, please request a free quote.

Key features

  • Listing ID: 1852217 (SA36700)
  • Plot: 382 sqm

Description

Reference ID: details: €4,500,000Unique building for sale in the heart of Limassol, located on Heroes Square.The building consists of:1st floor:- on the east side, facing the park, there is a cafe-restaurant, with a separate kitchen, a dedicated area for washing dishes, a separate bathroom and shower for staff, as well as a fire exit. Also, 2 men's and 2 women's toilets.There is a license that can be renewed after renovation.- on the west side, facing the park, there is a nightclub that had a cabaret license, which can be renewed after renovation.Separate dedicated bar area, stage, balconies for guests, dance floor, men's and women's restrooms, separate fire exit, and a passage to the kitchen for serving food.2nd floor:- large veranda overlooking the park, with toilets for men and women- office- a large hall that can be adapted as a restaurant, a venue for conferences, meetups, etc. Also, 2 men's and 2 women's toilets. Separate fire exit.Total useful and other areas in the building are around 800 sq.m.The building's advantages:1. Existing permits that can be renewed after renovation2. Historical building - rental income is not taxed3. All infrastructure is for a full-fledged recreation center.4. Since the facade of the building is located on the square, you can get permission to have tables right on the square5. The square is planned to be converted into a completely pedestrian area by 2026 - traffic will increase significantly6. There are unsold square meters for resale and/or completion of other properties7. There is an opportunity to sell the company itself (a new one was created for this transaction), thus avoiding even the costs of transferring the title8. Uniqueness of the building - there will be no more buildings of this kind in this location9. Potential for price growth after repairs and licenseSubmitted application for Planning permits for Night club, Restaurant, Snack bar upstairsOn a SPV - NO Transfer fees

For privacy reasons, the advertiser has not indicated the exact address.
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Buying expenses

For registering a resale property in the buyer’s name, transfer fees are required. These fees are determined by the property’s market value as assessed by the Land Registry on the purchase date.

Transfer fees
If buying as an individual
€176,600 ($204,270)
If buying on joint names
€173,200 ($200,337)

Disclaimer - Property reference 1852217. The information displayed about this property comprises a property advertisement. BuySellCyprus.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and BuySellCyprus.com has no control over the content. This property advertisement does not constitute property particulars.

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