Protaras, Famagusta €197,000

Commercial Premises For Sale in Protaras with Title Deeds
(Potential of turning this into a 4 bedroom penthouse)

PRICE REDUCTION!! ( was €220,000)

RENOVATION / INVESTMENT PROJECT

The property is located on the top floor of a commercial building, previously used as a restaurant, and requires a full renovation. The proposed plans suggest a 4 bedroom, 3 bathroom apartment with a large private balcony boasting views towards Profitis Elias to the front and views of the coast line to the rear. The property shares a staircase to the front of the building and small communal entrance with the neighbouring property. On the ground floor there is allocated car parking and an additional 45m² storage. This project when completed will make a fantastic family home or holiday rental investment opportunity.

- Estimated renovation costs €100,000

- Estimated valuation after renovation €450,000

- 45 m² storage unit

- 6 allocated car parking spaces

- Internal 179 m²

- Un-covered balcony 173 m²

- Walking distance to the nearest beach

- Walking distance to the local shops and amenities

- 60 minutes to Larnaca International Airport

- Suitable for Cyprus Permanent Residency

- Energy Efficiency N/A

Protaras

Protaras is a popular tourist resort, well known for its beautiful golden white sandy beaches, especially Fig Tree Bay with its old lone fig tree, and clear sky blue waters. A beautiful purpose built coastal boardwalk links Protaras to adjoining resorts, secluded coves & beachside tavernas & cafes. To the northwest, atop a rock, you will find the limestone Church of Profitis Ilias (Agios Elias) with breath taking views across the bay. There is a wide choice of hotels & self catering accommodation with a vast selection of restaurants, traditional tavernas, bars & coffee shops, making this a great area for investment for the tourist market.