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€5,700,000
The building comprised of a two star hotel (35 rooms – 70 beds) known as Les Palmiers Hotel and a restaurant, situated in Skala quarter, of Larnaca Municipality. The property holds a corner position onto Athinon seafront avenue (Finikoudes) and Evagora Pieridi street, opposite the beach of Finikoudes (an organised sandy beach), about 30 meters north of McDonalds restaurant.
The building is seven storey height with a basement, of continuous development but a corner building, of a conventional construction, with a reinforced concrete frame, brick in filled walls and a flat roof over. According to the Department of Lands and Surveys (DLS) website, the building was built in 1984, however the hotel has been fully refurbished recently.
According to the approved architectural plans, the building is estimated to have approximately an enclosed area of around 2.000 m2 (around 250 m2 each level including the basement). The building comprises of the hotel on part of the ground floor and basement and on all the upper floors, and a restaurant on part of the ground floor and part of the basement.