Skala, Larnaca, Cyprus

Three Bedroom Apartment For Sale in Skala with Land Deeds

***PRICE REDUCTION*** (was €1.000.000)***

RENOVATION PROJECT

This unique three bedroom apartment is located in a prime location in Skala on Ermou Street, right in the centre amongst the shopping precinct. As you enter the property, you come to a cosy reception area with stairs going up to the main hall/landing. From here you can access seven different rooms, three of which are currently laid out as bedrooms, one as a kitchen area and two others as lounge/reception rooms. There is also a large roof terrace which is accessible from either the main hall/landing or from another separate entrance from the street.

This property would be perfect for someone looking for an investment, who could renovate it to bring it back to it's former glory. It has the potential to be either a boutique hotel, a bar, a restaurant or even a family home. The perfect opportunity for a city centre investment project. The property is a listed/protected building and as such any renovation under taken will be under conservation restrictions with considered government grants of up to €100,000. The roof terrace also has permissions for three additional metal framed floors.

The property also comes with an additional 50.52% building factor (as stated on the deeds) that can be sold to anyone for €260,000 as this is what the Cypriot Law allows.

- 3 double bedrooms

- Master bedroom with ensuite

- Large main hall/landing

- 2 lounge/reception areas

- Kitchen area

- Guest WC

- Un-furnished

- 50.52% building factor

- Internal 177 m²

- Balcony 16 m²

- Roof terrace 55 m²

- 1 minute to local shops and amenities

- 1 minute to local sea and beach

- 10 minutes to Larnaca International Airport

- Suitable for Cyprus Permanent Residency

- Energy efficiency TBC

Larnaca

Larnaca is the home of Cyprus' main International Airport, close to the Salt Lake area, a place where you can watch Swan's and Flamingo's that live in the lake. On its coastal seafront, the café's and restaurants are peaceful.

On the edge of Larnaca Bay the palm-lined seafront of Larnaca town bustles with cafes, tavernas, shops and bars. Historic charm is lent to the scene by its fortress castle, now used as the town's summer cultural centre.

Larnaca is an excellent base from which to get to know the central and eastern section of Cyprus, and its proximity to the International Airport and a number of luxury hotels that have been developed along its beautiful sandy beaches make this a popular holiday choice. Larnaca is the modern gateway to Cyprus, known for such sights as the beautiful St. Lazarus Church and leisurely Palm Tree Promenade.