Hotel – Paphos (city), Paphos, Cyprus

Project is suitable for the “citizenship by investment” (passport) application. Opportunity to buy a unique real estate project and turn it into a jewel of the hospitality and catering in Paphos. Very attractive investment opportunity that can bring high investment return and pay itself in a very short period of time. Similar restaurant located just 500 m away works 16 hours a day and is almost always fully booked. Restaurant/café/lounge bar in this area can bring estimated 1.2 Million Euro turnover per annum with profit approximately 30%. 27 rooms & suites. Hotel facility can also be used for private events (weddings or birthday parties). Estimated profit is 300.000 Euro per year. * * Above numbers are provided to us by an experienced accountant having expertise in the similar type ofbusiness. Restoration of Hotel In the Paphos CentreLocation: Paphos CentreLand: 2095 m² Building: Preserved – traditionalConstruction is completed in 1953Building type: hotelGround floors: reception, lobby bar, restaurant, sitting area, kitchenFirst & second floor: 23 rooms, lobbyPlanning characteristics: B. C. = 80% — total to build = 1676 m² C. C. = 49% — total to cover = 942 m² Renovation plus construction of suites TOTAL € 4.800.000.