Mansion Conversion Project

Nicosia, 2016

 

On behalf of our own business incubation fund, Navigator Consulting developed an investment concept and business plan for a mansion conversion project in Central Nicosia.

 

The property comprises a three-story property (ground floor, first floor, second floor) located in central Nicosia. The objective was to develop:

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• A co-working space on the ground floor;

• Office space and business lounge on the first floor;

• A lounge space on the third floor.

 

The idea was to provide a unique, high-end space for co-working and Cyprus Substance Solutions in Nicosia.

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Our work included:

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• Concept development;

• Floor planning and building footprint analysis;

• Renovation and furnishing budget;

• Profitability forecast based on coworking, office space and networking options;

• Marketing and promotional spend forecast;

• Staff and HR / management planning, staffing roster, costing and forecast;

• Integrated financial modelling.

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This project was not implemented due to the difficult in leasing and converting the site. The concept remains extremely relevant, as there is a shortage of similar spaces in Nicosia, Limassol, Larnaka or Pafos.

 

For further information on investment analysis and preparation in Cyprus, please contact us.