Retirement home in Limassol Project №29947
Investment project for sale:
Fully reconstruction of the old hotel into a retirement home.
A unique opportunity to enter an unoccupied niche on the island with massive demand from the local population, the existing several retirement homes in Cyprus are all occupied. There is a queue to enter.
The cost of living is 1200 euros per person per month, and the state dates some part.
The net profitability of the project exceeds 12% per annum.
An ideal solution for business. Cypriots and pensioners from other countries who are using the retirement homes will gladly aspire to live here.
The building is located in Episkopi's picturesque village, next to the English base, 25 minutes from Limassol, and 35 minutes from Paphos.
There are supermarkets, cafes, restaurants, banks, and other infrastructure nearby.
The building was built in 1997 and functioned until recently. It consists of 100 rooms (93 doubles and seven suites) in three buildings.
- • Block A: The main building of the hotel and consists of a basement, a basement, and three upper floors. There are 59 double rooms in total: covered area 4085 m2 and basement 733 m2.
- • Building B: consists of the first and second floors. There are 41 rooms with two single beds. Its internal area is 1585m2.
- • Building C: Sporting Center / Gym, consisting of a basement and a mezzanine with sports facilities. In the same building, there is an underground car park. It has an internal area of 820 m2, a mezzanine of 260 m2, and a basement of 712 m2. There are also indoor and outdoor pools.
The investment project offers a building purchase with its complete reconstruction into a retirement home; the project's price is indicated on a turnkey basis.
