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.

The property for sale is two ground floor shops which have been consolidated. They are located in Kato Paphos quarter, in the Municipality of Paphos. The store is located approximately 400 meters east from the New Shopping Center of Paphos "KINGS AVENUE MALL" and approximately 240 meters north from the 6th Primary School of Paphos, on Agapinoros Avenue.

It is part of a commercial/residential complex, which was built in 1986. The total area of the store is 162 sq.m. with mezzanine 70 sq.m. It is a space specially designed for the purpose of being used as a retail store, a fact which does not prohibit any other development. The ground floor consists of storage space and open space and toilets on the mezzanine.

The store with registration number 0/6253 has exhausted its right to develop additional buildings and 5 flats have been developed on the 1st floor. Apartment 101 is a one-bedroom with an area approximately of 38 sq.m. Apartment 102 has two bedrooms with an area approximately of 62 sq.m. Apartment 103 has two bedrooms with an area approximately of 65 sq.m. Apartment 104 is a one-bedroom with an area approximately of 45 sq.m. Apartment 105 has three bedrooms with an area approximately of 85 sq.m.

• Total area of the shop: 162 sq.m. ground floor + 70 sq.m. mezzanine
• Total area of the apartments: 295 sq.m. 

This is a particularly attractive area due to its proximity to all services and facilities, as well as to the coastal area.

Notes:

• For registration 0/6254 the communal ownership share is 7.20%
• For registration 0/6253 the communal ownership share is 36.50%
• The building was registered as jointly owned according to the provisions of Part IIA of the Law Chapter 224, on 07.04.1994, according to part IIA of the Law, CHAPTER. 224 (01/01/1994- 6/EΣ/9200364/1994)

Rights / Easements:

• Subject to exclusive right to constructed additional buildings (floors), on roof no. 1 (File No. 6/AEΔ/20658/1980). Beneficiary property:  Registration No. 0/6253, sheet 51, plan 100602, section 1, plot 504 Paphos, Municipality of Paphos, Kato Paphos

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: Paphos

Municipality: Paphos Municipality

Quarter: Kato Paphos