Other 490 m² in Peyia, Cyprus

A rare chance to acquire a fully reconstructed (2022) commercial building in the heart of Coral bay’ most famous tourist destination. Located just walking distance from hotels and from the sea, this property sits in a high-footfall "A+" zone surrounded by luxury villas and resorts. • Total Covered Area: 489 sq.m. across 4 levels (Basement, Ground, Mezzanine, 1st Floor). • Plot Size: 600 sq.m. • Massive Terrace: 120 sq.m. of covered/open seating area—the property’s most valuable asset, accommodating 180 guests. • Ready for Business: 120 kW high-power electricity connection and professional industrial ventilation already installed. RESIDENTIAL & LIFESTYLE • Top Floor Apartment: A high-spec 130+ sq.m. 3-bedroom residence is included on the upper floor. Perfect for an owner-operator or as a high-end rental unit. UNMATCHED INVESTMENT POTENTIAL (VALUE-ADD) • Hidden Floor Expansion: The ground floor features a "hidden" height of 580cm. A buyer can add an entire additional floor between the ground and mezzanine levels to instantly increase square footage and value. • Apart-Hotel Conversion: The internal structure is pre-designed for easy reconstruction into a boutique hotel with 12 to 20 guest rooms. • Rooftop Luxury: The structure is reinforced and ready for a private rooftop veranda or a swimming pool. LEGAL & TAX ADVANTAGES • 0% Transfer Tax: Sale is structured via a share transfer of a clean "paper" company, saving the buyer approximately €80,000 in government fees. • Title Deeds: Clear freehold title deeds held since 2012. • Turnkey Licensing: 100% compliant and ready to receive a new CTO (Cyprus Tourist Organization) license immediately.