Multi-Leisure Commercial Real Estate (Cyprus)

  • Reference: BFS-CYP-039 
  • Sector: HORECA/Leisure 
  • Region: Europe 
  • Country: Cyprus 
  • Price: €6,500,000 
  • Sales: €700,000 (F2014); €1,200,000 (2011 best year) 
  • EBITDA: 25% 
  • Assets: Land, Building, fixtures, fittings, inventory, equipment for all F&B businesses within 
  • Telephone: (357) 22504200 Cyprus 
  • Email: cyprus@connecor.com 

 

Multi-Leisure Commercial Real Estate in Cyprus

General Information

A unique, freehold, multi-purpose entertainment plaza with components of traditional architecture, built in an approximate total covered area of 2.180 sq. met. of GLA in two floors, in a plot of land of 1,149 square metres. It can be described as a modern high-quality commercial real estate, combining modern and conventional design, spacious areas and very good quality finishes.

Due to the flexibility and versatility of its rooms and common areas, it can accommodate a wide range of social and corporate events and functions in the spacious ball rooms, with the use of its high technology equipment and facilities. In addition, it hosts a number of separate leisure business cash generating units, like a very successful restaurant tavern, a cosy bar, a night club for special events, a coffee lounge, a shop reception area, a conference room, kitchen areas to cater for around 500 guests, and other ancillary facilities. It is a one-stop-shop, fully equipped to host and provide entertainment and leisure for more than 1.000 guests in all its areas combined.

The asset has a number of advantages such as a music system composed of seven units which work both independently and in combination, flexibility with opening partitions and glass systems, translators system for conferencing, CCTV, modern lighting systems, TVs and projectors, and sound insulation and sound proof doors throughout.

The property has title deeds, CTO License to operate the businesses within, alcoholic drinks license, planning permit, building permit, final building approval and a registered trading name.

The reason it is for sale is due to owner fatigue & the other has other commitments to abide to. The investor has the opportunity to buy the assets and the business and if it is managed properly, great results will be realized.