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Reference: MACS008

ID: MV0091

Commercial And Residential Seafront Project In Limassol

Cyprus

An 18 floor avant-garde commercial building which also includes a separate residential building. A fantastic investment opportunity

Reference: MACS008

ID: MV0091

Register Interest

Location

Located on the coastal avenue of Limassol, CYP on 2628 meter Sea-Front land and consists of:
  1. 18 Floor Commercial Tower
  2. 6 Floor Residential Apartment block with 6 apartments only (246 meter sq each apartment per floor)

Business Description

The elegant shape of commercial tower rising 18 floors above the ground sets new standards in commercial tower design and world class office facilities. Commissioned to aid and persuade planning authorities that the tower would not impose the city skyline, but would in fact start to create a new era in the history of energy efficient and self- sustainable buildings.

Sustainability is the focal point and the structure qualifies a Grade A Green tower with maximum energy efficiency. 300sq m. of photovoltaic cells will generate 30kw per hour, 240kw per day.

All workspaces, offices and conference rooms strike magnificent sea views, reinforcing employee engagement and wellness and offering a larger corporate social responsibility framework.

The tower also offers 2 levels of Sky Gardens that feature 360-degree bay and city views. Both Sky Gardens can be used as common areas for the benefit of all residents, gym, meeting point, library, gallery, lounge or wine bar.

Residential building consists of 6 floors with 1 apartment each. Each apartment has 3 large bedrooms with en-suite bathrooms, fully furnished with each apartment uniquely designed.

Investment Rationale

It is noted that there is also a possibility of consolidating the Residence with the Tower. This would provide more premium returns to the potential investor on the sale-able residential unit, but would prerequisite a revised planning permit application.

Such a scenario would also require additional pre-development costs (i.e. architectural, structural engineer, quantity surveyor, mechanical and electrical engineer etc).

Transaction Information

ROI in case of sale is 41%. The sale of offices and apartments can start right away up on acquisition of the project.

Sale of 6 apartments block will be between 12 to 18 million.

ROI for Commercial Offices rent is 5.7 million per year.

Planning Information

The current planning permit offers:

  • 14 floors of offices;
  • 2 retails on the ground floor;
  • 2 mezzanines
  • 274 parking spaces, 143 of which will be available to the public
  • Commercial building 6,500 Sq.m.
  • 6 whole floor apartments
  • Residential building 1,362 Sq.m.
  • Approved building coefficient 4,097 Sq.m.
  • Building coefficient will increase with an extra 3,766 Sq.m.
  • Total building area 7,863 Sq.m.

To enquire, you will need to complete our Investor Verification Process and sign a Buyer Consent Form.

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