Hotel and 3 adjacent plots in the center of Nicosia

Hotel and 3 adjacent plots in the center of Nicosia.

A unique property is offered for sale, consisting of a two-star hotel and three adjacent plots located in the Old Town of Nicosia (Tampakahane district). The plots include two commercial and one residential plot, with a total area of 717 square meters. They are located just 150 meters from Eleftherias Square and 70 meters from Solomou Square and can be used as hotel parking.

The hotel, known as the "Royiatiko," is located in the Tripiotis neighborhood on the corner of Apollonous Street, in the walled city center of Nicosia, just 60 meters from Ledras Street. The property is located in one of Cyprus's most popular tourist areas, home to restaurants, shops, and hotels. The hotel boasts an attractive exterior, excellent physical condition, and regular maintenance.

The hotel's land area is 777 square meters. The building comprises four floors (ground floor plus three above-ground levels) and two basement floors, with a total capacity of 33 rooms. The total indoor built-up area is 1,340 square meters, the covered veranda area is 92 square meters, the basement area is 1,243 square meters, and the bar, located on the southern part, occupies 100 square meters.

The ground floor houses a reception area, a lounge area, two offices, a restaurant with a bar, and a kitchen. All 33 rooms are located on the floors above, with a room for those with disabilities available on each floor. Outdoor areas include an al fresco dining area, a swimming pool, outdoor showers, a bar, and storage space. There's also a separate bar with a dining area, a bar counter, guest and staff restrooms, and a pantry.

The first basement level houses a gym, toilets, changing rooms, storage areas, an office, an EAC substation and a staff room, while the second basement level contains 20 covered parking spaces and additional storage.

The hotel is located in the EZ-EN planning zone. Parcel number 96 is zoned residential (KA-A), parcel number 163 is zoned commercial (EZ-EN), and parcel number 94 is zoned residential (KA-A) (30%) and commercial (EZ-EN) (70%).

Urban zoning parameters: the property is located in a commercial zone with a building density of 160% and a coverage factor of 70%. Construction of up to three stories is permitted, with a maximum building height of 11.50 meters, opening up ample opportunities for the implementation of modern projects.

The total built-up area of the property is 1,340 square meters, and the land plot is 1,494 square meters. Additionally, covered verandas of 92 square meters provide a comfortable place to relax, as well as underground spaces totaling 1,243 square meters, which can be used for storage or technical needs. These parameters provide excellent opportunities for the implementation of a modern project, taking into account all functional requirements.