CAPITAL OPPORTUNITY 233
Kyrenia — Redevelopment Opportunities
Guide £4M–£5M
€ 4.7M–€ 5.8M · $ 5.1M–$ 6.3M · ₺ 216M–₺ 270M
Currency conversions are indicative and may differ from the transaction exchange rate. Indicative rates as of 2026-09-22.
An example of how Northea presents a property of this class. Figures, statuses and images are illustrative and are replaced by verified material on engagement.
The Opportunity
An illustrative redevelopment opportunity in Kyrenia: an older hotel building on a good site near the harbour, trading below its potential, with scope for refurbishment or replacement subject to planning. Presented to value-add investors. The example records the existing-use, structural and planning analysis Northea prepares for buildings whose value lies in what they could become. The dossier gives the existing trading, the site and the planning position as three separate items so that the buyer can weigh each.
Why It Matters
- Older hotel building near the harbour
- Refurbish or replace, subject to planning
- Value in the site and the use
Property
| Class | Redevelopment Opportunity |
|---|---|
| GIA | approx. 5,000 m² existing |
| Land | approx. 4 dönüm |
| Tenure | freehold title, to be verified |
| Existing use | hotel, trading |
| Operating history | trading, vendor accounts |
| Planning status | existing use; redevelopment unverified |
| Basis of figures | vendor accounts and statement, dated |
Legal / documentation
| Title information | Independent review completed |
|---|---|
| Parcel information | Independent review completed |
| Seller identity | Independent review completed |
| Mortgage / encumbrance review | Document received |
| Building permit | Document received |
| Planning status | Document received |
| Individual title availability | Independent review completed |
| Completion / final approval | Document received |
| Purchase permission relevance | Independent review completed |
Statuses reflect documents held by Northea. Nothing is presented as verified without documented evidence; independent review is arranged through your own lawyer.
Financial
| Asking basis | Guide £4M–£5M |
|---|---|
| Estimated acquisition costs | Indicative, on request |
| Basis of figures | Vendor accounts and statement, dated |
| Income illustration | Existing trading and appraisal on request |
| Operating costs | on enquiry |
| Management | Existing operator until redevelopment |
| Return illustration | Illustrative only, assumptions stated |
Lifestyle and access
The main resort town and property hub of the north coast, with a historic harbour, hotels, restaurants and the densest concentration of apartments and services in the TRNC.
Coastline
Rocky town shoreline with small beaches at Karakum and Escape/Alsancak strip to the west; sandy beaches are a short drive away.
Golf
Korineum Golf & Country Club (Esentepe), about 22 km / 25 min east.
Marina
Kyrenia Old Harbour and Kyrenia Marina (Delta Marina, Karsiyaka, ~20 km west).
Distances and driving times are approximate, by road, in normal traffic.
Media
- High-resolution gallery — On request
- Video — On request
- Floor plan — On request
- Site plan — On request
- Brochure — On request
- Private virtual viewing — On request
Considerations
Redevelopment potential is not a planning consent. Existing trading figures are vendor-supplied.
Illustrative dossiers in this area: Kyrenia
