Properties | Investment
FOR Sale
ID: 33004
Old town

Investment (Project) in Old town, Limassol for Sale

Investment (Project) in Old town, Limassol for Sale

Traditional Residential Building – 12 Apartments
Located : Cyprus – Limassol Old Center (down Town)
Project Information

The plot is 100% bought and registered on the company name, free on any loan and mortgage
A planning permit approval is already being issued
Complete Turn key Project Selling Price 2.500.000 euros
Complete Turn key Project , market price 2.800.000 euros
Direct Profit of Asset on deliver date will be 300.000 euros
Net Yearly Return of Investment before Taxes 10 % (244.500 euros / 2.5mil)
Net Yearly Return of Investment after taxes 9 % (218.763 euros /2.5 mil) 
Buyer is saving VAT Tax 19% on selling price around 494.000 euros
Buyer is saving the registration land office fees around 100.000 euros
Payments Terms will be agreed between the Buyer and seller

Project Characteristics (Totally 12 Apartments): 

Ground Floor Parking Space (Ground Area)
Lobby Area, stairs and elevator (Ground Area)
12 Apartments (10 studios and 2 one Br) on 1st, 2nd & 3rd Floor
Roof Garden with a pool (3m X 8m), barbeque area, sitting & relaxing area, sun beds with umbrellas, shower and w.c on the 4 th Floor

The style of the building will be the one of the old city with doors, windows, woodwork & iron work as well colors to remind how the old city looked at its prime keeping the authentic style of the area. There will be a remote-controlled private car entrance and a separate entrance to the lobby of the building. The face of the building will be a Π shape representing a corner location of the old city. 
12-15 month for the project to completed and delivered

Anexartisias Shopping Street , 90 meters
Sea Front , 300 meters
Old Castle , 750 meters
Old and New Marina , 800 meters

Additional Details

Plot area: 310 m2
Completion year: 2022
Price: €2.500.000

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