Residential/Commercial Building Located in Peyia Paphos

Residential/Commercial Building Located in Peyia Paphos

This two-storey building is located in the heart of Pegeia Municipality, within the Paphos District. Situated just 75 meters southeast of the Town Hall and approximately 135 meters southwest of Pegeia Elementary School, the property benefits from its central position, surrounded by a variety of local amenities including cafes, restaurants, banks, and supermarkets.

Pegeia is a well-established tourist destination known for its significant potential for building development, making this property an attractive investment opportunity.

The building enjoys dual frontage along public roads on both its southwestern and northeastern boundaries, with a total frontage of approximately 40 meters. The structure comprises a ground floor, a first floor, and a basement. Additionally, there is a traditional stone-built building on the property.

Key property features:

• Total building area: approximately 705 sq.m.
• Basement area: approximately 160 sq.m.
• Stone-built building area: approximately 25 sq.m.
• Uncovered verandas: approximately 80 sq.m.
• Plot size: approximately 1,290 sq.m.

Originally constructed around 1990, the building was designed and permitted as a restaurant.

Notably, there is a concept design available for converting the existing structure into a modern residential complex featuring eight luxury apartments. The proposed development includes seven spacious two-bedroom apartments and one one-bedroom apartment, offering a unique opportunity for transformation in a high-demand area.