Residential Building 515 SQM For Sale

€2,750,000 Negotiable

Kato Paphos, Paphos

Location on the map is not accurate.
ID: 11603

Key Facts

  • 515 m² Covered Area
  • 986 m² Land Size
  • Title Deed: Available
More Facts
  • Uncovered verandas: 400m2
Building & Business for sale - A fully licensed, boutique, quality night club and bar business, operating both in winter and summer. Located at the heart of a busy down-town nightlife and very close to the beach. It is a modern freehold building, in an approximate total covered area of 515 square meters of GLA for the indoor winter club area, and 400 square metres of outdoor open commercial area for the outdoor summer club, in a big plot of land of 986 square metres.

The business and the asset enjoy a number of advantages. Excellent music entertainment systems, CCTV, modern lighting systems, TVs and projectors, sound insulation, flexibility, excellent organization of events, strong marketing and reputation, presence in social media, very good customer base, it is considered to be a high quality entertainment venue.

The business can also accommodate a wide range of quality private social and corporate events and functions, in a modern setting and design both indoors and outdoors, with the use of its high technology equipment and facilities. More than 700 guests can be entertained indoors, and an approximate number of 800 guests can be easily hosted outdoors. The total number of yearly visitors is estimated at 80.000 – 90.000.

Both the property and the business are owned and managed by separate entities, owned by a respected person in the industry. The existing business and the property are for sale due to owner’s fatigue and other ongoing business commitments. It includes the transfer of the property title deeds, or, the sale of the company holding the asset, and also the business with its goodwill and the inventory, furniture and fittings, equipment, fixtures, etc.

The asset is very well maintained. The business is a very successful going concern with increasing revenues every year. Valuations for the property and the business are available.

The business has a very good potential if managed and utilized properly. With the increasing tourism in the area and a number of other important factors such as the existence of very few quality licensed clubs, top club reputation, it can unleash its full potential when the right professionals take over.

It is nicely decorated, has good reputation for «neat drinks», quality repeat customers, very good ventilation system, professionalism, trained experienced personnel, it is very organized and it has lasted in quality over the years. Finally and most importantly, it is a fully licensed club and bar, and holds every permit and license as required by law, carries out all checks and inspections needed and holds all necessary health and safety and other certificates.

Lastly, the plot falls in a Tourist Zone T6e with:

Building Density: 50%
Site Coverage: 25%
Floors: 3
Height: 13.5m

Planning Permission for:

1) Hotel
2) Tourist Village
3) Tourist Villas
4) Compex of apartments
5) House
6) Services

Indoor Features

  • Air Conditioning
  • Basement
  • CCTV system
  • Electrical Appliances
  • Fire alarm system
  • Furnished
  • Male and Female W/C
  • Mezzanine
  • Open-plan
  • Security System
  • Water Heater

Outdoor Features

  • Landscape Garden
  • On Street Parking
  • Solar System
  • Uncovered Parking

Transfer Fees

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This property is advertised by Zyprus Property Group licensed estate agency with CREA Reg No. 742 and CREA Lic No. 378/E