Residential complex of 11, two bedroom, apartments over three floors with covered parking area, building permit and undivided Title deeds for the plot, in convenient location of Paralimni - PAR214B

This is a rare opportunity to purchase a residential building project of eleven apartments situated in a convenient location of Paralimni. The building comprises of 11 two bedroom apartments, with covered parking places and is close walking distance to the centre of Paralimni. The apartments have a ground, first and third floor position. Built originally in 2003 and utilised as a rental property since inception, the complex is offered for sale by the lender as an investment opportunity for a willing buyer.

The apartments have an internal covered area ranging from 56-69m2 and the verandas covered and uncovered range from 3-44m2. The total internal covered area is 696m2. The ground floor includes 2 apartments, the first floor boasts 6 and the top floor benefits from 3 apartments.

Built in 2003 and in need of renovation this complex of properties is a superb investment opportunity for development or as a rental investment after modernisation. Viewing is highly recommended to fully appreciate the potential of the apartments as well as the convenient location of the complex. The apartments cannot be sold individually at present but it is possible to obtain full separate title deeds for each individual apartment once renovated. The price includes some room for negotiation.

Viewings by appointment.

PARALIMNI

The name Paralimni` means by the lake and is the site of a 15th century settlement. The lake is part of the Natura 2000 natura network due to the large number of migrating birds and flamingos that can often be found during the wetter months. Paralimni is the administrative centre of the Famagusta region and a bustling town full of history and interesting twisty streets. There are a wealth of independent shops, cafes and delicious eateries in the town and you can easily wile away a few hours drinking coffee and watching the world go by.

The main square hosts many events through the year including the annual Carnival. This is a huge, fun affair 6 weeks before Orthodox Easter. Most of the local population can be found celebrating during Carnival week and the finale boasts a procession that takes over three hours to pass through the centre. In December, there is a winter wonderland` with rides, ice skating and stalls to drink hot wine and buy Christmas fancies.

ABOUT THE FAMAGUSTA REGION

Whether you are planning to visit the Famagusta region of the Republic of Cyprus for the first time or you are already in love with the area, there is something here for everyone.

The area is not known as the Jewel of the Eastern Mediterranean` for nothing! From the stunning cliffs of Cavo Greko (the most Easterly point of Europe) to quaint inland villages, to the 44 (yes 44!) white sandy Blue Flag beaches, the area holds something for every palette. We have beautiful nature trails, water sports galore, amazing fresh cuisine, nightlife, one of the top waterparks in Europe, fishing harbours, a world class Marina and the list goes on and on! You are never far from anywhere in Famagusta, a maximum 15 minute drive to the nearest beach from even the most inland villages.

Thousands of expats of all nationalities have made Cyprus their home over the years due to the warm local welcome, fantastic climate and host of things to do. The bustling cities of Limassol, Larnaca and Nicosia are just over an hour away but here you can enjoy a more relaxed pace of life. Crime rates are amongst the lowest in Europe, English and Russian are widely spoken and there is always time for a chat, a coffee or a glass of wine in the sunshine. We look forward to introducing you to hidden gems of the area on your next visit.

ISLAND HOMES ESTATE AGENTS

Island Homes have been working with both local and overseas buyers and sellers for over 20 years. We specialise in property sales in the Famagusta region with seaside properties from Protaras to Ayia Napa; major towns including Paralimni and Deryneia and also covering all of the beautiful red soil villages` including Xylofagou, Vrysoulles, Frenaros, Avgorou, Dasaki Achna and Sotira.

All of our team live locally and have worked together for many, many years. We are also all immigrants to Cyprus and property owners ourselves so can guarantee that we have lived through the same experiences as that of our clients. We have in-depth knowledge of the area, the facilities, the amenities and, of course, every one of the properties that we advertise for sale.

Prior to advertising we undertake a full due diligence on every home to ensure that we can fully inform our clients about the legal status of each house or apartment.

Our reputation is hugely important to us so, for a truly personal experience, contact us and we will work together to find your dream home!