Filenews 30 April 2023 - by Socrates Ioakeim
It was officially transferred a few days ago, as Insider is aware, the building that housed the former Orphanides supermarket in Paphos, in the area of Agios Theodoros, very close to the Stelios Kyriakides football stadium, which is the home of Pafos FC.
The building was purchased, as we are aware, by an investor originally from Israel, for an amount exceeding €3 million. The building has a total area of 3,149 sq.m., including a basement of 925 sq.m. and can be expanded through other commercial uses. It is located on land of 7 plots, with a total area of 3,686 sq.m.
It is located in a commercial zone, with a building ratio of 140% and coverage of 50%, which allows the construction of a three-storey building with a maximum height of 13.5 metres.
The Israeli investor, in order to proceed with the deal, had asked for a change of use of the property, as it is not in his plans to reopen as a hypermarket, but as a building that will include luxurious office space and other support services. However, according to real estate market circles, there has been increased interest lately in office space.
