Prime building development land in the heart of the city center
Archived / EUR 3.500.000 (VAT not included)
77775070
or +357 95598488
The plot is adjacent to 2 roads each of the 2 roads with 80m frontage. The potential because of the frontage is very promising.
5 separate plots:
Plot 1 = 540m2
Plot 2 = 504m2
Plot 3 = 504m2
Plot 4 = 491m2
Plot 5 = 3,423m2
Total = 5,462m2
Building Zone = Ka3 with coefficient 140% and coverage 50%
Building density over 4 floors is approximately 7,600m2 with the possibility to go much higher because of incentives provided for by legislation when plots are larger than 5,000m2. Also with the purchase of extra co-efficients by listed historic buildings or exchange of land with the municipality, even higher co-efficients can be achieved.
This land is a small developer's goldmine starting with a land cost of no more than 550 per BUILDABLE m2, construction cost of approximately 1000 for high quality finishes and a selling of minimum 2200 per m2 VAT.
Estimated gross figures:Gross profit = 4,000,000
Cost = 12,000,000
Gross ROI = 33%
