Unique Commencial Opportunity

£550,000

Lapta, Kyrenia, North Cyprus

14 Bedroom

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Sale Price £550,000
Listing Number 96367
Status Not Active (November 2023)
Property Type Apartment
Agency Reference18113181
Title Deeds Turkish Title Deed
Gross Land Area1,400 m²
Apartment Floor Ground floor
Pool No Pool
Garden Yes

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added 19 months ago

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Apartment For Sale Description

A unique opportunity has arisen to purchase this charming, apartment-style, hotel building in the Turkish quarters, in the heart of Lapta. Purched in the foothills just above the village, benefitting from fabulous sea views to the North, and tranquil mountain views to the South, the site offers huge potential to operate as a boutique-style hotel, or rented individually as long-term apartment rentals, or short-term holiday lets, which we estimate to comfortably generate a rental yield in the region of 15-20%. The plot size is just under one donum of prime Turkish title land, and there is a total of 14 individual apartments (12x1 bedroom and 2x2 bedroom), which could also be sold on individually.

There is plenty of potential to upgrade and add value to the site and put your own stamp on the property, or with very minimal upgrading, it could be operational immediately as a fantastic life-style business.

Reaching from the foothills of the Kyrenia mountain range down to the sea, to the West of Kyrenia founded on the ruins of the city of Lamboussa are the villages of Lapta and Alsancak; a major centre for tourism and the largest expat base in Kyrenia. Draped in history and intrigue, the legend of the Lambousa Treasure has captivated tourists for decades.

Locally you will find everything you need to attract custom, including popular beaches, tavernas, restaurants, coffee shops, supermarkets, general shops and banks. There are many places of interest nearby, including some fine churches and monasteries. For eating out, you are spoiled for choice. From traditional Cypriot to international cuisine, there is plenty to offer!

The surrounding area, all the way down to the sea, is origional Turkish title land, and along the sea front is the popular "Lapta strip" and Lapta walkway, a popular tourist spot. Near which, there are also plans in place for the creation of a fabulous harbour in the future, which will be a further pull to the area.