Mixed Use Building In Agia Napa, Limassol

Description

An old building in the centre of the old town behind the busy shopping streets, offers ground floor house with side stairway to the upper level house.
The opportunity here is the plot itself with a size of 556m2, 240% building density and 70% coefficient.
The house is not a listed building therefore very easily can be demolished and a new high rise building over 4 floors can be built. The building has been partially renovated therefore there is an opportunity to use the existing building and develop further.
Ideal for small units or other.
The plot is on 2 separate title deeds as shown in the photos.
483m2 and 73m2 which join together.

Property Details
* For Sale
* Property Type: Building
* Property Subtype: Mixed use
* Location: Limassol, Agia Napa, Cyprus
* Internal Area: 400sqm
* Covered Verandas: 30sqm
* Bedrooms: 6
* Bathrooms: 5
* No of WCs: 4
* Price: €1,200,000
* VAT: N/A
* Date Available From: 29th October 2021
* Loan Installment: €5,882

If you wish to borrow from a bank, please find above indication of the loan installment with the assumptions used below.

Loan Installment Calculations:

Assumptions:

Closing Price: €1,200,000

Own Contribution (30%): €360,000

Loan Amount (70%): €840,000

Interest rate: 3.2%

Years of repayment: 15 years