Lot 30
Auction
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Boutique Apartments in Vouni, Limassol

Auction
Cyprus
Apartments (Multiple)
Commercial

INVITED OPENING BID €280.000

Bidding deposit €4.500 *fully refundable if unsuccessful bidder

Extension period added...

Auction Date 29 September
Closing Time 10:00:00 (GMT+3)

Property Viewings

Viewings have not yet been scheduled for this property.

Property Summary

  • Prestigious restored stone-built building in the heart of Vouni village. 
  • Restored building is built on a 104 sq.m. plot of land and extends to a total of approx. 109 sq.m. internal area, approx. 20 sq.m. of covered verandas, approx. 22 sq.m. of uncovered verandas and approx 40 sq.m. of private yard.
  • It comprises one luxury suite with covered veranda and private yard on the ground floor and a duplex luxury suite with an uncovered veranda spread over the first and second floors.
  • Vacant possession.
  • The property can benefit from various important incentives. More details available in section “Incentives” below.
  • The property is a fully operational renowned holiday accommodation generating an attractive ROI. 
  • This property has a minimum conditional price subject to confirmation (STC). The highest offer is subject to approval by the vendor, who has a maximum of 2 working days to respond. In the meantime and in case of approval by the vendor the highest offer placed will be mutually binding. You will find more information in the Terms and Conditions. 
  • The property benefits from the Housing Plan of Revitalization of Exceptionally Distant, Small sized and Distant areas (see Zoning paragraph for more details).

Contact Us

Solonas Charalambous
Solonas Charalambous
Property Agent, here to help.

Contact Us

Solonas Charalambous
Solonas Charalambous
Property Agent, here to help.

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Property description

  • Fully restored stone-built listed building comprising two luxurious suites. 
  • The building has been fully restored to a high standard and is currently operating as a holiday lodge.
  • Blended traditional style with modern design.
  • The property features a common entrance opening into a stunning private yard with an outdoor metal staircase providing access to the first floor.
  • On the ground floor it comprises a luxury 37 sq.m. suite with private bathroom, a 20 sq.m.covered veranda and a 39 sq.m. private yard. It features traditional stone-paved flooring throughout and double glazed windows.
  • On the first floor, it comprises a 76 sq.m. duplex suite featuring an open plan living room with kitchen and dining area on the first level and an open plan spacious bedroom and a bathroom with jacuzzi on the second level. Outdoors, it features a 22 sq.m. uncovered veranda on the first floor, overlooking the yard.
  • Both units are linked with an internal metal staircase running from the ground up to the second floor with the option to block and separate access between the two units allowing the property to be rented either separately or as a whole.
  • The property was built in the early 1940s and was fully renovated/restored in 2015.
  • The property is an income generating business (going concern), generating substantial revenue from tourism/ short-term rentals. 

Incentives - Based on the Law on Preserved Buildings of 2002 (Law 240 (I) / 2002):

  • Any income generated from restored listed buildings is exempted from income tax.
  • Any transfer fees paid will be returned upon restoration.
  • Any unutilised coefficient can be sold.
  • Governmental grants up to €90.000 for the restoration of a listed building (conditions apply).

Location

  • The property is located in Vouni village, Limassol District under Land Reg. No. 0/11548. 
  • The property is primarily located in the heart of the village and abuts on Vasili Michaelidi street.
  • It is situated approx. 20 m. north of Vouni square and the main coffee shop, approx. 150 m. north of Timios Stavros church, approx. 70 m. south of Vouni’s school and approx. 160 m. south of the Agios Amvrosios-Vouni main road.
  • The neighbouring area features picturesque alleys with listed buildings, taverns and coffee shops.

Tenancy

  • Vacant Possession. 

Zoning

  • The property falls within the ‘Η1’ Residential planning zone which allows for 120% building density, 70% building coverage, 3 floors and up to 11.4 meters height.
  • The property benefits from the Housing Plan of Revitalization of Exceptionally Distant, Small sized and Distant areas. The Plan concerns of financial support for the development of a permanent first-home residence in areas where the Plan is in force. Depending on the beneficiary person and the requirements, the buyer can benefit from €35.000 to €70.000 construction costs. All subsidizations are subject to approval/rejection by the government/local authorities. More information available at- http://www.moi.gov.cy/moi/moiup/moi.nsf/All/31C60A18C2CE1F3EC2258597001F14AB?OpenDocument

Accommodation

The property was not internally inspected or measured by BidX1. The information was provided by the Vendor. We are informed that the property provides:

  • Listed building comprising two luxury suites
  • Interested parties are advised to undertake their own inquiries to confirm property / building measurements. 

VAT

VAT not applicable - Interested parties are exclusively responsible to verify and/or ascertain whether the sale of the Property is not subject to VAT.

*Terms & Conditions

Islanders Estate Agencies Ltd as a licensed Estate Agent, T/A BidX1 Cyprus Sales, Registration No: 799 / Licence No: 376/E. No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the vendor in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the vendor. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the vendor. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor.

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