Commercial building in city center, limassol
Reference ID: #SA36700
Price details: €4,500,000
Unique 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 renovation
2. Historical building - rental income is not taxed
3. 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 square
5. The square is planned to be converted into a completely pedestrian area by 2026 - traffic will increase significantly
6. There are unsold square meters for resale and/or completion of other properties
7. 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 title
8. Uniqueness of the building - there will be no more buildings of this kind in this location
9. Potential for price growth after repairs and license
Submitted application for Planning permits for Night club, Restaurant, Snack bar upstairs
On a SPV - NO Transfer fees
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Technical inspection:HOME CHECKandreas.chrysos@hotmail.com+357 96 504 296
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Legal inspection:M.PARASCHOU LAW Advocates & Legal Consultantsinfo@paraschou.com.cy+357 22 622 262
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Technical inspection:HOMESURVinfo@homessurv.com+357 22 377 004
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Legal inspection:CTA LAW FIRM C.T. Antoniou & Co LLCinfo@ctalaw.net+ 357 22 516 838
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Technical inspection:SQUARE ARCHITECTSp.panayi@cytanet.com.cy+357 99 592 218
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