Commercial Plot 2,007m2 in Katholiki, Limassol
For Sale / EUR 5.200.000
+357 99403589
Our exclusive unique commercial plot located on Makarios Avenue.
Ideal for mix use development with the potential of profits up to 130% ROI in 3 - 4 years time
2 plots are offered in a very advantageous position in town centre. One with unobstructed views to the north and the second plot is adjacent to the other on the southwestern edge. The plots have easy access to the traditional city centre, to the highway and other major streets of Limassol
Plot of 649m2
Allowable Building Area: 649m2 × 180% = 1,168.2m2
Allowable Coverage Area: 649m2 × 40% = 259.6m2
Plot Area: 2,007m2 according to the property title
Net Plot Area: 1,502m2
Allowable Building Area: 1,502m2 × 140% = 2102 m2
Allowable Coverage Area: 1,502m2 × 40% = 600m2
The plot is affected by 338m2 of setback and green space of (2,007-338)
× 10% = 167m2, which are excluded when calculating the permitted building area.
Increase of Allowable Coverage Area
THROUGH THE INCENTIVES SCHEME FOR CONCENTRATION OF OPERATIONS AND TYPES OF OCCUPANCY
The plots combined together have an area of more than 1,000m2. The Building Coefficient may be increased up to 30% of the original amount.
FIRST INCREASE OF AREA
● For Commercial Use (T1): 1,168.2m2 × 30% = 350.5m2
● For Residential Use (T2): 2,102m2 × 15% = 315m2
20% of the area stated above will have to be covered by transferring building factor from listed buildings, without though exceeding the maximum allowable percentages (20% for commercial and 5.9% for residential). in case that they are exceeded, then the above mentioned areas will have to be adjusted
accordingly.
BY TRANSFERRING BUILDING COEFFICIENT FROM LISTED BUILDINGS
By utilizing the incentive of transferring additional allowable building area which belongs to listed buildings, the actual project area coverage can be increased as below: SECOND INCREASE OF AREA
● For Commercial Use (Τ1): 233.6m2 (1168.2 x 20%) (already considered through the incentives scheme for operation and type of occupancy)
● For Residential Use (Τ2): 105 m2 (2102x5%) (no increase, all incentives used through incentives scheme for operations and type of occupancy)
