Two storey building in the heart of Pegeia Municipality in Paphos District.

It is located near the Town Hall and Pegeia Elementary School. Only 7minutes drive to the Coral Bay Beach, close to plethora of amenities and services such as cafes, restaurants, banks, supermarkets etc.

It is worth mentioning that the property needs a renovation and there is a concept design for the conversion of the existing building into a development of a modern residential complex of eight (8) luxury apartments. Specifically, it will consist of (7) two-bedroom spacious flats and (1) one bedroom flat.

Pegeia is a long-time tourist destination with great building development potential. The property abuts onto public roads on its southwestern and northeastern boundaries with a total frontage of 40 meters (approx.).

The building consists of a ground floor, a first floor and a basement. Externally there is a traditional stone-build building. The area of the building is 705 sq.m (approx.), the basement 160 sq.m (approx.), the stone-build building 25 sq.m (approx.), the uncovered verandas 80 sq.m (approx.) and the plot 1290 sq.m.

The building was constructed around 1990 and had secured the necessary Building Permit as a restaurant.

Characteristics

No VAT
Enclosed area: 705 m2
Veranda : 80 m2 Uncovered
Land: 1,290 m2
The property has a separate title deed

Planning zone: Η2
Building Coefficient: 90%
Coverage Coefficient: 50%
Maximum Floors Allowed: 2
Maximum Building Height (m): 8,30