TENDER SUBMISSION DEADLINE:
TUESDAY 14 MAY 2024, 10:00 a.m.

IMPORTANT NOTICE
This 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.

Available for sale is the ¼ undivided share located in the community of Frenaros in Famagusta District. It is located at a distance of about 660 meters northeast from the Frenaros Primary School on the connecting road Frenaros - Sotira.

Within the property there is a ground floor building which was constracted around 1985. The building consists of a tavern and a shop. The tavern consists of a dining area, kitchen and restrooms, while the shop consists of a customer service area and restrooms.

The building has an indoor area of 227 sq.m. now covered terraces 23 sq.m.

The property falls within Residential Zone Kα6 with a building factor of 90%.

Notes:

• Temporary title issued in accordance with article 10 of Law 44/84.

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

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The Tenderer is exclusively responsible for conducting an inspection of the Property and to take all actions necessary to verify and / or be satisfied on the accuracy of the details of the Property (including planning particulars, boundaries a.o), and in addition to ascertain whether the sale of the Property is subject to VAT and the exact amount payable. In case of disagreement, it is the sole responsibility of the Tenderer to provide relevant evidence to satisfy Altamira Real Estate.

The Terms and Conditions found on the Tender form must be carefully considered prior to submitting an Offer. 

Any photographs, markings, outlines, or other design on the photographs are indicative and for illustration purposes only.

All planning particulars or other features of the property must be checked with the relevant authorities. Altamira Real Estate is not bound to accept the highest or any other offer submitted. 

The above price may be modified without any prior notice.

All information received from Altamira Real Estate (through the website and / or its operators and / or otherwise) is indicative and no guarantee is given for its completeness and / or validity.

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District: Famagusta

Municipality: Frenaros