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73,059 SQM Tourist Land for sale in Mazotos, Larnaca

Mazotos, Larnaca, Cyprus
73,059 SQM Tourist Land for sale in Mazotos, Larnaca 235 Mazotos
13000000 €13,000,000  ($14,169,092)
73,059 SQM Tourist Land
Mazotos, Larnaca

€13,000,000  ($14,169,092)

Cyprus Properties

Cyprus Properties

Reg.num: 841 / Lic.num: 387/E

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BuySell Cyprus Real Estate offer on property will expire soon
In high demand!
Compared currency flag Pay in USD and save up to $495,918

Average Bank Rate (€13,000,000)
1 USD = 0.8865 EUR
$14,665,010

Mid-market rate (€13,000,000)
1 USD = 0.9175 EUR
$14,169,092

All figures are live mid-market rates, which are not available to consumers and are for informational purposes only. To see the rates we quote for money transfer, please request a free quote.

Planning Zone

Tourist (Τ2Α)

Description: Tourist Area (Τουριστικη Ζωνη)

Coverage: 0.2

Density: 0.45

Height: 13.1 meters

Allowed stories: 3

Development description: Policy Statement (Excluding Zone 3) (Δηλωση Πολιτικης (Χωρ. Περιοχη 3))


Nearby planning zones

Residential: 1.73 Km

Commercial: 10.75 Km

Industrial: 2.89 Km

Agricultural: 3.12 Km

Farm: 4.09 Km

Key features

  • Listing ID: 841481 (2035)
  • Plot: 73059 sqm

Description

The property boasts a large seafront and moving inland, it also has road access. It is an ideal investment opportunity for a tourist development (Beach Hotel or Hotel Apartments)
Size: 73059sq.m
Planning Zone: T2α - 45% for hotel development

Zoning T2a (Tourist Zone) with direct access to a road.
Option 1 - Hotel Development
Maximum allowable Density 45% x 120% = 54%
Maximum allowable Coverage 20%
No. of floors 3 — maximum height of building 13,10 m
Option 2 — "Tourist Village" Development
Maximum allowable Density 40% x 120% 48%
Maximum allowable Coverage 20%
No. of floors 2 — maximum height of building 8,30 m
Option 3 - Residential Development Maximum allowable Density 20%
Maximum allowable Coverage 20%
No. of floors 2 — maximum height of building 8,30 m
The Hotel or Tourist Village Development (options 1 & 2 above) are considered the most desirable and cost effective because of the additional 20% density concession that has recently been announced by the government.

From the above it can be ascertained that there is potential for building a 4 or 5 star Hotel on site with over 700 rooms and all amenities.
There is also potential for building a Tourist Village on site with over 550 units and all amenities.

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.

Stamp Duties
If buying as an individual
€25,908 ($28,237)
If buying on joint names
€25,908 ($28,237)
Transfer fees
If buying as an individual
€516,600 ($563,058)
If buying on joint names
€513,200 ($559,352)

Disclaimer - Property reference 841481. The information displayed about this property comprises a property advertisement. BuySellCyprus.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and BuySellCyprus.com has no control over the content. This property advertisement does not constitute property particulars.

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