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Over the last 10 years Paxos has cemented its reputation as a quality destination. The island is stunningly beautiful, small (9 miles long and 3 miles wide), unpretentious and understated; yet it attracts an international clientele.

Luxury private villas with swimming pools are also in demand and a number of high-end specialist tour operators have been sending discerning clients to the island for many years. But Paxos lacks quality hotels. There are just two small luxury boutique hotels on the island, neither of which is situated by the sea and they offer just 14 suites between them.

The opportunity exists to use The Loggos Estate as a flagship property for an upmarket hotel group or as an individual hotel for a private investor.