Mixed-Use Investment Opportunity in Timi – Restaurant Space, 3 Apartments & Development Potential

Description

Mixed-Use Investment Opportunity

Mixed-Use Investment Opportunity – Situated in the strategic and rapidly developing area of Timi, Paphos, this mixed-use building presents a compelling investment opportunity combining immediate income potential with future development upside. Ideally located near Paphos International Airport, the coastline, the motorway, and key amenities, the property benefits from excellent accessibility and strong rental appeal.

Constructed in 2009, the building sits on a total plot of 857 sqm with a 60% building density, offering additional scope for further development or expansion, subject to planning regulations.

The ground floor consists of a spacious 317 sqm open-plan area, previously operating as a restaurant/taverna, making it ideal for commercial reuse. Its generous internal layout allows for flexible configuration, whether for hospitality, retail, showroom, or other business purposes.

Above the commercial space, the property features three well-proportioned 2-bedroom apartments, each designed for comfortable residential living:

• Two apartments: 68 sqm internal + 7 sqm covered verandas
• One apartment: 67 sqm internal + 4 sqm covered verandas

All apartments benefit from covered verandas and underground covered parking, enhancing both convenience and long-term rental desirability.

The location is a key strength of this asset. Timi is increasingly popular due to its proximity to the airport, easy motorway access, and close distance to beaches and Paphos town, making it attractive for both long-term tenants and short-term rental markets.

Overall, this property offers a rare combination of commercial space, residential units, and development potential, making it ideal for investors seeking multiple income streams or a value-add opportunity in a well-connected and growing area of Paphos.