Search
Commercial Building in City Center, Limassol
5687, Cyprus
REF: 991223
€4,500,000
Description
Reference ID: #SA36700Price 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
Reference ID: #SA36700Price 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
Read More
Property on Map
Currency Exchange
5687, Cyprus
Interested in this property? Don't lose out to currency fluctuations changing the price you pay...
Many overseas buyers in Cyprus do not realise they can lose thousands of pounds through adverse currency exchange rate movements.
The property buying process in Cyprus takes time; it could be up to six months between seeing the property of your dreams and actually taking ownership. So how much would this €4,500,000 property cost you?
| Property Price € | Minimum cost in the last six months | Maximum cost in the last six months | Fluctuating exchange rates over the last six months could have increased the cost of this property by |
|---|---|---|---|
| €4,500,000 | £3,714,525 | £3,906,405 | £191,880 |
| Property Price € | €4,500,000 |
| Minimum cost in the last six months | £3,714,525 |
| Maximum cost in the last six months | £3,906,405 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £191,880 |
5687, Cyprus
Interested in this property? Don't lose out to currency fluctuations changing the price you pay...
Many overseas buyers in Cyprus do not realise they can lose thousands of pounds through adverse currency exchange rate movements.
The property buying process in Cyprus takes time; it could be up to six months between seeing the property of your dreams and actually taking ownership. So how much would this €4,500,000 property cost you?
| Property Price € | Minimum cost in the last six months | Maximum cost in the last six months | Fluctuating exchange rates over the last six months could have increased the cost of this property by |
|---|---|---|---|
| €4,500,000 | £3,714,525 | £3,906,405 | £191,880 |
| Property Price € | €4,500,000 |
| Minimum cost in the last six months | £3,714,525 |
| Maximum cost in the last six months | £3,906,405 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £191,880 |
The exchange rate on the day you make an offer on your property in Cyprus will not be the same as the rate you pay when you complete on your purchase, as currency markets move constantly. Any large rate movements may take it beyond your price range as the chart above illustrates the fluctuation and how much extra your property could have cost you.
The best way to avoid this significant risk is to plan your budget and currency strategy with an experienced currency specialist. They have been known to save you up to 4% compared to many high street banks, £4,000 for every £100,000, which soon adds up. They will also keep you up to date on market movements, help you set a rate in advance with a product called a Forward Contract - so you know exactly what you will pay for your property in sterling.
This is why we recommend Smart Currency Exchange Ltd. If exchange rate movements continue to be as unpredictable and as significant as they have been in the past then by not using Smart Currency Exchange Ltd your property could cost you £191,880 more.
Search popular regions
Useful links
Hi {{firstName}},
Enquire about this property
Make an Enquiry on this property
No Yes
No Yes
I agree to be connected with a trusted property agent who will receive
these details.
We handle your data with care and only ever as outlined in our
Privacy Policy
Thank you for your
enquiry!
Our partner agent will be in touch with you shortly.
Our partner agent will be in touch with you shortly.
Enquire about this property
No
Yes
No
Yes
I agree to be connected with the property agent for more detail on this
listing.
We handle your data with care and only ever as outlined in our
Privacy Policy
