Building for sale in the center of Limassol


The asset consists of three houses on one title, situated in the Old Town Centre of Limassol, just a 2-minute walk from the central market area and a 10-minute walk from the sea front and marina.
The covered area of all existing buildings is approximately 422 sqm, mixed between part listed buildings of (342sqm) and part non-listed (80 sqm), on a 304sqm plot.
The site has been the subject of a long and time consuming listed building planning application that recently gained consent with a partial demolition of the rear listed portion of the listed building. The building has a current coefficient of 120%. The building was declared listed in 2000 and as this is prior to 2002, the allowable subsidy for the purpose of a transferable area will be based on the 1999 building coefficient which was at the time 160%. Consent was granted for a single dwelling of 4 very large bedrooms with en-suites, detached studio, swimming pool, lift, 2 car garaged parking, garden and roof terrace. Part of the listed building to the rear of the site was approved for demolition in order to construct a new building. A total covered area at 120% for this scheme represents 365 sqm covered area plus an additional 80 sqm of covered balcony’s, covered verandas and covered parking.
The government gives grants for the redevelopment of listed buildings.
Should one wish to change the plans for the site, it is far easier now that listed building consent has been granted. The opportunity to build an investment development of student accommodation is extremely popular in the area.
It is extremely rare to have a listed building in the center of town with covered parking and part demolition of some listed structures. The final product is a house that has all the amenities of a fantastic luxury home with the benefit of “Old Listed Design” mixing with modern comforts in the center of Limassol.
An amazing opportunity to purchase all the existing 3 buildings, with the benefit of the listed building planning permission, the building permit and all subsidy available from the government grants

  • ID: 4526
  • Published: 2018-11-02 08:41:07
  • Last Update: 2018-11-04 15:40:37
  • Views: 656
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