For Sale Building in Protaras for €4,500,000
The asset is a former touristic complex located in Protaras, one of the tourist keys in Cyprus.The existing structure has 4 floors and comprises of 56 units, of 10 are studios and 46 are one bedroom apartments. The complex has a number of additional amenities,such as restaurant-bars -outdoor swimming pools -a kids swimming pool and a tennis court.The total area of land plot is 4820sqm and build areas as follows :*Main building ca. 370 sqm, Block A:1,540 sqm ,Block B : 1525 sqm.The asset falls within planning zones T5a and Da2 with characteristics as follow :*For tourist villages, villas, and hotel apartments in T5a:building density coefficient of 30%,coverage coefficient 20 % ,in 2 floors and height 8.30 m .*For holiday houses in T5a :building density coefficient of 20 %,coverage coefficient of 20 %,in 2 floors and 8.30 m in height.*For protected zone da2 :building density coefficient of 1%, coverage coefficient 1%, in one floor and 5.50 height.The neighboring area comprises of holiday houses, hotels, and other touristic establishments.The location is in close proximity to the main tourist district of Protaras, the center of Paralimni, and the vibrant tourist area of Ayia Napa.