Hotel For Sale In Cyprus

Its charming position makes a wonderful retreat for those who prefer a high, cool and unconstructive place, yet within a few minutes walk from the Local Market, District Museum and Public Gardens.

The lucrative business property is Built to exceptional 3 star standards. The hotel is fully air-conditioned and heated, can be accessed by wheel chair, and consists of:

* Eighty one (81) bedrooms, furnished to the highest possible standards with full air-conditioning and central heating for the winter month¢s ensuite bathroom, shaving sockets, hair dryers, Satellite colour TV, direct dial telephone and private balcony offering incredible mountain and / or sea views of the local scenery.
* 24 hour reception with panoramic views of the Harbour and Mediterranean sea,
* Cocktail Bar, Cafeteria, a luxuriously spacious Coffee shop, for Breakfast and snack area
* Restaurant offering local and international cuisine,
* Multipurpose / conference room,
* Swimming pool (18,5m x 8,5m) and children's swimming pool (4,5m x 4,5m)
* Private parking area,
* Two (2) lifts to all floors
* Library with guest's internet connection (all Hotels departments are fully computerized with IBM main server)
* Complex of shops - there are 7 shops owned by the Hotel at the main entrance level

The Hotel has additional Government Building Permits and approved Architectural Plans for a further expansion of the Hotel with four (4) more floors which include:

Thirty (30) one bedroom deluxe apartment suites and
One (1) roof garden cafeteria/bar and multipurpose room
enjoying once realized spectacular views.

The hotel was fully refurbished in March 2014, including:

* All new carpets, new carpet underlay. All new deluxe Hotel specification beds special
* All new Hotel specifications 24” Phillips Professional LED TV¢s with wall mounted brackets.
* New satellite channels including Russian and film channels.
* All new Hotel specification curtains(Black-out) new Hotel specification curtains (Net)
* All new Hotel specification Bedcovers(Quilted)
* All the Hotel Bedrooms painted all public areas Restaurants corridors painted. All new Hotel table cloths linen. All new Hotel Bedroom special specification Linen. All new Hotel Bedroom Bath towels and face Towels.
* All pool area painted -New professional catering cookers in the kitchen new catering equipment kitchen utensils , New cutlery and new Plates.
* New Bedroom bathroom mirrors. New guests toilets bathroom mirrors.
* New LED Lighting economy lighting in kitchen, Bar Cafe areas. New LED emergency lighting throughout the Hotel. Also economy bulbs fitted throughout Hotel
* Hotel generator in mechanical room fully serviced. Hotel water pressure pumps in mechanical room all overhauled and fully serviced Hotel pool filtration overhauled, sand ballast replaced and pumps serviced.

The Hotel has been operating very profitably and most successfully for over 13 years and is open to its clientele coming from various European countries and Russia all year round.

The performance and returns signify that well run and well operated hospitality operations can conform to people's high expectation and Value for Money factor are the dictating elements for the prime success together with the correct policy implementation, budgeting and management policies and procedures. Furthermore it should also be noted that the hotel has a diversification enigma by also investing heavily in the Shops leasing Market that has also contributed successfully to the company's overall performance.

The present annual turnover is over 1,2 Million Euros High GOP. Certified Audited accounts are available and Inspection visit is possible to seriously interested principals.

Currently this hotel has 15 full-time and 10 part-time personnel, and the experienced management can stay on if required (applies for sale only).

This exquisite hotel also offers the rental opportunity with purchase option.

Rental requirements.

•Monthly rental is 23,500 Euros.
•The Rental period is minimum 3 Years and the maximum rental period is negotiable.
•The compulsory purchase of all stock on date of transfer, food Stock, wet stock, dry stock, stationery stock, maintenance stock, and any other stock that is needed for the Hotels operation shall be bought at cost price by the lessee

Rental payment provisos.

•35% of the total rental contact period required in advance and the balance to be paid in equal advance monthly installments.
•An Irrevocable non expiring “Bank Guarantee” for the amount of 189,000 Euros for the three years rental period from a reputable EU Bank that will be held, by the owning Company until the Hotel is returned to the owning company. This secures the full implementation of the Lessees contractual obligations, the Hotels Assets, Furnishings, Fixtures, Fittings, the Hotels three stars official Cyprus Tourism Organization classifications rating and operating licenses.


Location

The hotel is just a few minutes' walk from the Local Market, District Museum, Municipality and Public Gardens, in the centre and exclusive shopping area and a walk away from the Local Bazaar with bus stops outside the Hotels main entrance. With its population of only 27.000 inhabitants Paphos (also spelled Pafos) is the capital of Cyprus' western region. Most of the inhabitants work as employees in various branches of tourism, because there is not much industry.

Paphos consists of two areas: the coastal resort area (Kato Paphos) and the town itself (Pano Paphos) which is slightly inland. Paphos airport offers a great link point to many European cities, as opposed to flying into Larnaca (the larger airport closer to the eastern portion of the island) and driving (-100km, 80Euro cab ride each way.)

Paphos is very popular with tourists, and especially with English, German and Scandinavian tourists. Among its attractions are its ancient mosaic floors, it's beautiful old harbour, its modern hotels and restaurants, situated along the seaside promenade. Other sites include an archaeological museum, the Byzantine castle of Paphos, the Tombs of the Kings, St. Paul's Pillar and the Temple of Aphrodite (the goddess of love and beauty).

The climate of Cyprus makes the summer months a popular time for tourism in Paphos, when temperatures reach easily into the mid 30 degrees centigrade every day. However the cooler winter months make walking and cycling ideal activities, especially further away in the mountains.

The main shopping lane, which runs parallel to the beach promenade, is the ideal tourists' marketplace.

Paphos is one of the main tourist spots in Cyprus. The sun shines all day long in the radiant town. There are many hotels both big and small for tourists to stay in, with kindly staff who will be happy to help you with your every need.

Located in Paphos is the gorgeous Coral Bay, a beauteous beach with soft sand and deep blue water, a perfect place for water sports.

Price (Euros) 12000000

Previous Price (Euros) 18500000

Land area (m²) 2550

Storage yes

Sea View yes

Swimming pool yes

Air Condition yes

Electricity yes

Water yes

Phone yes

Monthly rent (Euros) 32000

Furnished yes

Internet Connection Available