
PROJECT EXPERIENCE
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;
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Office space and business lounge on the first floor;
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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.
Our work included:
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Concept development;
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Floor planning and building footprint analysis;
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Renovation and furnishing budget;
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Profitability forecast based on coworking, office space and networking options;
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Marketing and promotional spend forecast;
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Staff and HR / management planning, staffing roster, costing and forecast;
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Integrated financial modelling.
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.