Historic Cypriot hotel Berengaria finds new investors

Miles Hurley Miles Hurley Uploaded 17 January 2020

LinkedIn

Cyprus: Cypriot antique mountain property Berengaria has finally found investment, as the property’s owners struck a deal with developers Planetvision.

The Bank of Cyprus had previously attempted to sell the building at auction with a starting bid of €2.3 million, and eventually sold to Gordian Holdings for their Helix portfolio in June 2019.

The building, once one of the largest and most luxurious hotels in Cyprus, the hotel's closure and abandonment in 1984 has led to it garnering a rather haunting reputation, according to the Financial Mirror. Ghost stories have popped up around the empty ruin, but today, most of the time it serves as a site for local youth to party. 

Its history dates back to the early 20th century, where british architect Walter Henry Clark designed the building to serve as a hub for local and foreign royalty. Now, the building attracts around 200 tourists a week, attracted to the old design, the macabre history, and the hike through the Troodos mountain range it takes to get there.

No timeline has been set for development or for opening, with the deal being delayed by land surveys and bureaucratic turmoil. Previous attempt at development, with plans to turn the building into a casino resort, failed due to a lack of local planning approval.

Luxury developer Sofitel is reported to be involved in the purchase, according to the Cyprus Mail, who earlier this year opened a major property in Australia. The hotel currently hosts capacity for 80 rooms, split into two wings, with a guest house, a restaurant, a café/bar, and a swimming pool.

LinkedIn

Be in the know.

Subscribe to our newsletter »
Subscribe

Thank you sponsors