Exceptional Hotel Apartment Investment Opportunity for immediate sale in Cyprus: SOHO City Hotel Apartments
Cyprus is dynamically gaining world-wide attention and growing in popularity as a modern and cosmopolitan business hub offering numerous investment opportunities across a wide range of industries making it one of the best countries to invest in right now.
In view of this development, Emerald Group unveils its exclusive project, Hotel Apartment Building “SOHO City Apartments” available for immediate sale in Larnaca, Cyprus.
PwC was commissioned and just recently finalized an extensive Investment Appraisal report for the building on the 28th of September 2020 (the detailed report can be sent to all interested investors upon email request).
Key Highlights of this Investment Opportunity:
Newly built in 2010, 5-floor building made of ten 2-bedroom apartments with a total building surface of 895 m².
Fully operational business model in place as an all-year operation Hotel Apartment Property with an average Occupancy Rate of 70%, generating income through online booking platforms (i.e. Booking.com & Airbnb) & direct bookings.
Excellent reputation amongst clients with Top Ratings online: 8,5/10 in Booking.com and 4,5/5 in Airbnb.
Superb central location in the commercial area of Larnaca city with close proximity to Larnaca International Airport and walking distance from Commercial Areas (Ermou street) and Popular Tourist Attractions (Old Port & Marina, Medieval Castle, St. Lazarus Church) .
Asking price: € 2.5 million.
Conservative Rate of Return: 3.8%.
Emerald Group, acting in the capacity of director of the Cyprus company holding the asset, is the sole authorized seller of this Property.
An extensive Investment Appraisal report Price Waterhouse Coopers (PWC) has just been completed on 28 September 2020 and is available for review to investors with serious interest.
Additional information on SOHO City Apartments (SCA):
Separate Title Deeds for each apartment; therefore each apartment can also be easily sold separately.
Can be converted to a medium / long term rental property, if required.
Located in a commercial area of Larnaca, which at the moment is predominantly an area of residential properties, mainly apartment buildings, many of which are available for short term stay. In close proximity to the Project one can find Foinikoudes beach (c.400m), the Medieval Castle (c.500m) and St. Lazarus church (c.250m) which are well known tourist attractions of the city. The old Larnaca port and Marina are located c.500m from the Project and are planned to be re-developed by the Government (1+Billion investment) to accommodate 650 berths, residential and commercial developments (i.e. luxury villas, educational and medical centres, restaurants, cafes etc.). This project enhances significantly the prospects of the surrounding area.
In addition, the Project is located in close proximity from Ermou street, the main commercial street of Larnaca, consisting of numerous retail stores, cafes and restaurants.
