The property consists of seven adjacent parcels of land, forming a unified seafront property with total area of 87.823 sqm, in Mazotos Village, Larnaca. It is adjacent to a public road on its north-western boundary at a distance of 3 km south-east from Mazotos village centre and 16 km south-west from Larnaca International Airport. The asset is in close proximity to the national motorway.
The asset has a polygonal shape, an even flat surface and a total frontage of approximately 360 meters along the sea shore.
A Planning Permit has been submitted for the division of the property into six plots.
The immediate area of the property consists of residential developments and empty plots which lie within touristic and agricultural zone. It encompasses recent residential developments proximate to the sea shore, with swimming pools and well kept gardens.
It is noted that the property offers uninterrupted sea view.
The asset falls within the Touristic Planning Zone T2ε, with the following density and coverage coefficients:
Hotels: building density coefficient of 45% and a coverage coefficient of 20% over 3 floors, and with 13.10 metres max height.
Tourist Villages/Tourist Residential Units: building density coefficient of 40% and a coverage coefficient of 20% over 2 floors, and with 8.30 metres max height.
Residential: building density coefficient of 30% and a coverage coefficient of 20% over 2 floors, and with 8.30 metres max height.
The asset may be eligible for additional building density through government incentives.
Owner: Garveno Properties Ltd
Important note: The property is currently in tender process. Interested parties are welcome to submit their bids at the latest by 26/09/2016.
All urban features must be checked with the proper authorities. The Bank has the right to review the selling prices without any prior notice.
Type Field | Tourist
Vat Vat not Applicable
Coverage ratio 20%
Max floors 3
Max height 13,10 m
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