CYH319F

HOTEL APARTMENTS IN POLIS FOR SALE

Business Type: Hotels & Hotel Apts
Location: Polis, Pafos, CYPRUS  
Type of Tenure: Freehold
Business Reference: CYH319F
Asking Price: € 1.800.000
Annual Turnover €120.000
Gross Profit Margin 65%
Monthly Rent n/a
EBITDA Margin n/a
Stocks (at cost) Euro 5.000 approx
Reason for Sale RETIREMENT
Accounts Available 2018 Audited
Years Established 20
Incorporated Business Yes (Limited Co)
Relocatable Business n/a
Car Parking 15 private/covered plus free on street
Vendor Financing Negotiable
Full-time Employees 3
Part-time/Seasonal Employees 4 incl. cleaners
Internal Area 2500 sq. metres
Internal Seating n/a
Terrace Area n/a
Terrace Seating n/a
Mezzanine Area n/a
Mezzanine Seating n/a
Plot Area 2800 sq. metres
Basement Area n/a

Description

This Hotel Apartment complex is licensed by the Cyprus Tourism Organization as a Class B Hotel Apartment.

It is located on a hill overlooking the Mediterranean, in quiet rural surroundings offering both sea-views and mountain-views. Distance to Paphos Airport is 35 minutes by car/taxi or bus.

However, it is also within easy walking distance from the center of the nearest Town (Polis Chrysochous) with all facilities and amenities (restaurants, taverns, shops, Banks) while distance to the nearest sandy beach is about 1 km. It is also only 10 minutes’ drive from an exclusive Health Spa with natural healing springs and many spa clients choose to stay here.

Family-owned and operated, it enjoys excellent reviews from all major travel websites for its friendly personal service, ambience and convenient location.

Very popular with families and couples who prefer self-catering accommodation, but also want to have the option to have a snack in the Hotel or dine out in one of the taverns and restaurants nearby.

All necessary Town Planning and Building Permits are held. Total built area is 2.500 sq.m. on two floors, while the land plot area is 2.800 sq.m.

Facilities & Common Areas:

  • 24-hour Reception
  • Lounge & Bar
  • Breakfast Room & Snack-Bar
  • Free WiFi
  • Large outside Pool & Pool Bar
  • Large outside sun terrace
  • Childrens’ Playground
  • Landscaped Garden
  • Car Rentals & Excursions
  • Covered guest parking-spaces

Guest Rooms:

The Hotel Apartment offers 24 one-bedroom Apartments and 7 Studios (31 in total).

An additional floor can be added (400 sq.m.) to increase capacity to 45 – 48 Apartments. The Cyprus Tourism Organization may subsidize the cost of expansion by up to 60%.

All Apartments/Studios are fully furnished and equipped, featuring the following amenities:

  • Large lounge area with Satellite TV
  • Dine area
  • Fully equipped Kitchenette with cupboards, stove, microwave, large sink and refrigerator
  • Air-conditioning
  • Private bathroom
  • Balcony
  • Free WiFi

Asking Price: €1,8 Million (negotiable) for clean sale with no debt or liabilities. Management can stay on for a reasonable handover period.
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