Apart hotel in Nicosia

The Project concerns a corner-lot office building located on the frontline of Eleftherias Square in Nicosia. The building comprises seven upper floors (excluding the ground floor and mezzanine), with the current project focusing exclusively on floors 2 through 7.

• The proposal entails a complete internal and external refurbishment of floors 2 to 7, converting the existing office spaces into residential units/studios. Each floor will accommodate four residential units, offering a total rentable area of 192 sqm per floor, resulting in 24 units across the six floors.

• The current owner is seeking an investor to fund the project, with a total investment requirement of approximately €2.17 million. In return, the investor will acquire a 50% equity stake in the project.

• Upon completion of the renovation and change of use, the building’s units will be ideally suited for short-term rental operations. Each unit has a separate title deed and registration number, allowing for flexible ownership and management.