Industriel for Køb i Polis, Pafos

IMPORTANT NOTICEThis is a direct sale of a mortgaged property, in accordance with article 44H (3) of the Immovable Property (Transfer and Mortgage) Law of 1965, as amended from time to time. Please note that:(a) only offers that exceed the reserve price shall be reviewed; and (b) the mortgagee shall not pay any real estate agent’s fees. If a prospective purchaser appoints a real estate agent, it is their obligation to pay the real estate agent’s fee. The 2-star Marion Hotel is located at a lively and central location in Polis Chrysochous Municipalities in Paphos District, at a distance of 350 meters (approx.) southeast of Town Hall and 80 meters (approx.) northeast of “Papantoniou” supermarket.The property is situated close to all necessary services and amenities such as supermarkets, shops, cafes, schools etc. In addition, the property enjoys excellent access to the neighboring communities and the beautiful beaches of the area.The level of construction and maintenance of the property Is good.The hotel Marion Hotel is located on Arsinois Avenue and it consists of 52 rooms. In addition, it comprises of a restaurant, bar, private parking space, swimming pool and others.The total interior area of the rooms is about 1,900 sq.m., the ground floor about 900 sq.m. and the basement about 900 sq.m.An important advantage of the hotel is the fact that the tourism industry is thriving, with the demand for hotel rooms increasing every year.Furthermore, the property has the prospect to be converted into a boarding or special needs school, a block of apartments etc.It is considered as an appealing real estate investment opportunity. Tenders submitted for an Amount below the Reserve Price shall be rejected. THE CLOSING TIME FOR TENDER SUBMISSION IS 10:00 AM EVERY TUESDAY,UNLESS OTHERWISE SPECIFIED