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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:

  • 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.

Our work included:

  • 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.

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.

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