Hotel / Mansion / Restaurant Complex for Sale in Makarios Ave, Pafos, Cyprus

Beautiful Mansion for Sale in the Centre of Pafos, Cyprus

The former Park Mansion Hotel - a listed building - is located in the old part of Paphos town, the area ear-marked for major restoration works. The former hotel is adjacent to the newly renovated Paphos Cultural Centre. Built on an elevated site, it overlooks the municipal park and enjoys spectacular views towards Kato Paphos.

Steeped in history the original building dates back to Venetian times. Additions were made to it in the 1880's when it was known as "To Arhontiko" (The Mansion House). This grand building, the first in Paphos to boast a third storey, was then owned by one of Paphos' most aristocratic and eminent families, The Kythreoti-family.

The former hotel is built on 1561 m2 of land and the building itself including the first and the second floor is 1427 m2. The whole was renovated and converted into a hotel in 1990 with the help of a government grant.
It was totally renovated again in 2007 and 2008.

The mansion consists of 26 rooms as well as common areas. Outside there is a swimming pool surrounded by a large courtyard paved in village stone, pool bar and a paved terraces at the front and back.

The property also has an unused building factor of 316 m2 which can either be used to enlarge the building (plans already exist) or can be sold to a third party.

There are government grants available for this property in the order of Euros 140,000 (OneHundredandFortythousand).

The property may:
i) continue to operate as a hotel provided certain renovations are made
ii) be converted into apartments for sale. Plans have already been prepared
iii) easily be converted into a private residence
iv) convereted into offices
v) converted into commercial space for a multitude of activities - like restaurants etc..

In view of the union of Cyprus with Europe, Cyprus legislation has come in line with Europe and has lifted restrictions on buying business or property in Cyprus.
We would be happy to advise on the above.