€3,850,000 $4,011,043
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Pay in USD and save up to $140,387Key features
- Listing ID: 1553049 (33341)
- Bedrooms: 5
- Total covered area: 213 sqm
- Plot: 673 sqm
Description
Listed Plot for sale with listed house Land size 673
Location: just few steps from the palm lined seafront promenade, stretching from the Marina along the coastal road. The promenade is popular both day and night a place for all tastes with cosmopolitan atmosphere
Three plots with listed house are situated in the town centre, adjacent to the main seafront and in Zone Πα6 where construction is "continuous" i.e. new buildings can abut existing ones.
The prevailing land uses are touristic, commercial, residential and for offices.
PLOT PARAMETERS AND PLANNING RESTRICTIONS:
The total area of the plots is 673 m2 (57+516+100) and there are "listed" historical buildings on
all three plots which are protected by law and cannot be demolished. Consequently, the
allowable/ remaining density can be utilized in the "unoccupied" area which is in plot 196.
The planning restrictions are as follows:
• Maximum no. of floors 3*
• Maximum height of building 10 m *
• Maximum allowable Density 180 %
• Maximum allowable Coverage70 %
BASED ON THE ABOVE, THE FOLLOWING PARAMETERS CAN BE CALCULATED:
Maximum Building Density = 673 m2 x 180% ~ 1.211 m2 (enclosed spaces)
Maximum Building Coverage = 673 m2 x 70% ~ 471 m2 (footprint)
The areas of the existing listed buildings need to be subtracted from the above so that the
remaining allowable Density and Coverage can be calculated:
Density of existing listed buildings
≈ 382 m2 (enclosed spaces)
Coverage of existing listed buildings ≈ 215 m2 (footprint)
Remaining Building Density
≈ 829 m2 (1.211 m2 - 382 m2)
Remaining Building Coverage
≈ 256 m2 (471 m2 - 215 m2)
However, owners of listed buildings are subsidized by the government in order to renovate theirproperties. The subsidy is 50% of the "acceptable" renovation cost and is given both in cash and
in the form of a so-called "transferable density concession"
Plot with listed house where you can develop both house and the piece of land which is empty.
460m2 of area to be developed
* Maximum allowable Density 1.8% = 829m2
* Maximum coverage 70%
* Special consideration
* with important economic intensives
Area of the listed house
* 213m2 listed
* 170m2 mezzanine and listed building first floor
Buying expenses
Stamp duties is tax paid by property purchasers to the land registry when the property sales agreement is registered with the land registry. Transfer fees paid by property purchasers to the land registry when the title deed of the property is transferred to their name.
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