| Price:€3,759,000 Total Price £ $ |
Agent Information |
| Condition: |
Ready for occupation |
 |
| Property Type: |
Commercial |
| Bedrooms: |
20 |
| Bathrooms: |
20 |
| Receptions: |
3 |
| Status: |
Available |
Intertrust Estates are marketing this commercial for sale in Cyprus
The Hotel Apartments are a mere 500 metres from the renowned and safe beaches.
The Hotel Apartments are tastefully decorated and furnished to a very high standard and have excellent cooking facilities. All apartments have air conditioning, TV, radio, telephone, hair dryer and private balcony or garden patio. Poolside bar available th ... moreroughout the day.
Accomodation
The hotel has recently been valued by an independent (RICS) surveyor, dated 19th May 2008 (copy of the report upon request).
Plot size - 1,765m2.
20 apartments (tourist cat. B), comprising 19 x 1 bedroom and 1 x studio, built over 2 floors in 1983 and recently renovated in 2001.
GROUND FLOOR
- Reception area - seating area;
- Restaurant;
- Kitchen;
- Store room;
- Bar (Big screen, satellite for all sports);
- 10 x 1 bedroom apartments, comprising of open plan living room and Kitchen, 1 bedroom, bathroom with WC and veranda;
- Swimming pool (12 x 6m);
- Kids pool (3.2 x 3.2m);
- Open, outside veranda area with pergola.
FIRST FLOOR
- 9 x 1 bedroom apartments, comprising of open plan living room and Kitchen, 1 bedroom, bathroom with WC and veranda;
- 1 x Studio apartment, comprising open plan living room, kitchen with sofa bed, bathroom with WC and veranda.
BASEMENT
- WC's and Changing rooms to meet EU regulations for pool users;
- 4 x Store rooms;
- Kitchen and Canteen;
- Engine room (Swimming pool);
- Parking area.
* All apartments have a covered area of 40m2 and are sold fully furnished and equipped with
- AC
- Sat. TV
- Hair dryer
- Radio
- Telephone
- Toaster / Kettle
- Fridge freezer
- Gas cooker
TURNOVER
- For the year 2007 = 855,000 euro
- Restaurant = 428,000 euro - 33% profit
- Bar = 214,000 euro - 45% profit
- Rooms = 214,000 - 60% profit (Yearly contract with a popular tour operator for 15 x 1 bedroom apartments - 95,340 euro)
Gross Operating Profit = 357,000 euro
*SALES PRICE = 3,759,000 euro (negotiable)
Total amount the bank will loan = 2,715,000 euro
Insurance value of the buildings = 1,500,000 euro ... less
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