A HOTEL PROPERTY AND TOURISM BUSINESS OPPORTUNITY IN MEDITERRANEAN NORTH CYPRUS

• Set right on the sea front
• On 28 donums (9 acres) site
• Total of 64 en-suite guest rooms
• 2 swimming pools
• Large lobby/ dining area
• Selection of outside terraces and eating areas
• English style pub
• Walking distance to Bogaz Harbour
• 20 Minutes to Famagusta
• Prime investment area
• Investment in property
• Investment in tourism

Busy Bees present an ideal opportunity for serious investors looking for an opening into the Mediterranean property and tourism market. With the cost of property and land very low in comparison to other Mediterranean countries, this is an ideal time to invest with the potential for substantial capital growth with a healthy return on investments. There are some new and exciting developments in this region, despite the recent global recession in property. Two five star hotels have been recently completed along the coast at Bafra, plus other developments including a casino and a new 18 hole golf course currently under construction. The new fully operational state of the art Karpaz Gate Marina and improved road links certainly make a statement about the future of tourism in this part of Northern Cyprus and the confidence of international investors.

 

 

 

 

 

The property

The Beach Hotel is located on the main Famagusta Bay coast road that runs from the heart of Famagusta down to the wonderful Karpaz area. In an excellent postion the hotel is just meters from the sea front.

The hotel currently has a total of 64 rooms in a variety of configurations including standard rooms, suites and two room mini villas. The bulk of the rooms have seaviews and are set around the main pool area with the remainder in a separate building near the second swimming pool.

The communal internal areas include a very large lobby and dining area, reception area, working areas with a large kitchen etc, a separate English style pub, and a number of outside terraces set in large grounds measuring 28 donums.

Although the hotel has been closed for several years we believe the structure to be sound but in need of some maintenance and updating and a moderate amount of investment would be needed to achieve this.This is reflected in the very low asking price which has just been reduced from £5,000,000 to £3,000,000 to attract an early sale. The land on which the Hotel is built is let from the Government, at a figure of 6,000 dollars every year.

 

Summary

Thıs is an opportunity for investors to be become involved in the tourism and property business in the TRNC with very real potential for returns on capital through property values and with  tremendous scope for the development of a profitable hotel business in a location that is the subject of much tourism related activity and infrastructure improvement.

The single most likely event that will boost prices overnight is the eagerly awaited resolution to the North/ South political issue. Even without this happening, property and land investments in the TRNC are clearly the choice of many knowledgeable business people.

With a resolution, which informed sources predict will be sooner rather than later, the upward values of property and land is expected to be dramatic. The only question may be is this a good investment or a spectacular investment ?

 

WHERE IS IT?

Bogaz is a very popular fishing village and tourist attraction conveniently located at the south facing end of Famagusta Bay. With already excellent road links to all other Northern Cyprus destinations being enhanced by a new Karpaz road link, this is a superb choice for an investor or investment group to develop this existing hotel building into a highly successful business enterprise. The airports at Larnaca and Ercan are both easily reached from here adding to the tourist business potential.

 

Why Invest in North Cyprus

It is no coincidence that a number of very influential international investors have chosen North Cyprus over other Mediterranean countries in which to invest. This is borne out by the superb yacht marina now open on the Karpaz Peninsula and the massive new five star resort at Bafra, including a new golf course under construction there due for completion in 2015. A number of developers have selected the Long Beach area for resort and residential projects that are truly spectacular. This is all in addition to the established tourism and residential  properties along the northern coastline of Kyrenia.

 

Consider the forward thinking infrastructure projects like the superb new roads linking main centres like Kyrenia,(Girne) The Karpaz, Bafra, Famagusta (Gazimagusa) Nicosia, (Lefkosa) and the airports at Ercan and Larnaca, and you get some idea of the scale of investment on the part of both government and private investors. The exciting new water supply pipe under the sea from Turkey using pioneering technology can only add to the future prosperity of Northern Cyprus  and we believe will also add value to property and land investments here.

People such as these don’t often get it wrong and this vote of confidence may be considered a guide to your own choice of where to invest in the Mediterranean.  

 

Why Invest in North Cyprus? Why invest anywhere else ?

 

Our opinion.

We chose Bogaz in which to locate our first estate office in North Cyprus several years ago because we believed that the area was lying dormant waiting for the tourism and property market to catch up. This is proving to be the case with some very substantial investment decisions now revealing themselves in the shape of major construction and infrastructure projects either completed or under way. We believe that this opportunity offers genuine possibilities and urge potential buyers to contact us without delay.