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€3,500,000 EUR

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Ref 2175525 | Limassol, Limassol | Land

Currency services provided by PureFX 3,500,000 EUR  |  Approx.£3,013,850 GBP  |  Approx. US$3,745,700 USD
  • Type: Land
  • Location: Limassol
  • Province: Limassol
  • Country: Cyprus
  • Bedrooms: 0
  • Bathrooms: 0

The property comprises 5 adjacent land parcels, forming one large uniform piece of development land with a total area of 54.586 m². It is located in close proximity to Limassol Marina .



DEVELOPMENT AREA ANALYSIS PREPARED BY a well known ARCHITECT


LAND PARCELS 787 , 297 , 786 , 303 , 304 AGIOS IOANNIS



TITLE DEED AREA PARCEL 787 = 37,156 sq.m


TITLE DEED AREA PARCEL 297 = 313 sq.m


TITLE DEED AREA PARCEL 786 = 14,215 sq.m


TITLE DEED AREA PARCEL 303 = 1,516 sq.m


TITLE DEED AREA PARCEL 304 = 1,386 sq.m



GROSS LAND AREA OF ALL PARCELS = 54,586 sq.m



The Land Parcels are within the Limassol Municipality and are outside the Special Planning Area (Περιοχή Ειδικού Χαρακτηρα ) . Also the land is outside the boundaries of the Limassol’s City Center Planning (Όριο Σχεδίου Περιοχής Κέντρου Λεμεσού).



The PLANNING ZONES are Ka3 and Eβ3



Zone Ka3


Building Factor ΣΔ = 140%


Coverage Factor ΠK = 50%


Max. Height = 4 floors , 17 meters



Zone Eβ3


Building Factor ΣΔ = 160%


Coverage Factor ΠK = 50%


Max. Height = 5 floors , 20 meters



The Zone Eβ3 only applies in Parcel 786 ( 2,000 sq.m approx. ) and Parcel 787 ( 1,500 sq.m approx. ) . These areas are approximate pending the production of a Topographical Survey .



PUBLIC GREEN PROVISION @ 15% = 54,586 x 15% = - 8,188 sq.m



Remaining Area = 54,586 - 8,188 = 46,398 sq.m


COMMUNITY FACILITIES @ 2% = 46,398 x 2% = - 928 sq.m



We suggest at this stage we locate the Public Green and Community Facility Areas in the Northern part of Parcel 787. We assume at this stage there is no street plan (Ρυμοτομια) or any new roads.



NET REMAINING AREA = 54,586 - 8,188 - 928 = 45,470 sq.m



ALLOWABLE PLANNING BUILDING AREAS



Parcel 787 = 37,156 - 8,188 - 928 = 28,040 sq.m


Zone Eβ3 = 1,500 sq.m ΣΔ = 160% ALLOWABLE AREA = 1,500 x 160% = 2,400 sq.m Commercial use (A)


Zone Ka3 = 28,040 - 1,500 = 26,540 sq.m ΣΔ = 140% ALLOWABLE AREA = 26,540 x 140% = 37,156 sq.m (B)



Parcel 786 = 14,215 sq.m


Zone Eβ3 = 2,000 sq.m ΣΔ = 160% ALLOWABLE AREA = 2,000 x 160% = 3,200 sq.m Commercial use (C)


Zone Ka3 = 14,215 - 2,000 = 12,215 sq.m ΣΔ = 140% ALLOWABLE AREA = 12,215 x 140% = 17,101 sq.m (D)



Parcel 297 = 313 sq.m


Zone Ka3 = 313 sq.m ΣΔ = 140% ALLOWABLE AREA = 313 x 140% = 438 sq.m (E)



Parcel 303 = 1,516 sq.m


Zone Ka3 = 1,516 sq.m ΣΔ = 140% ALLOWABLE AREA = 1,516 x 140% = 2,122 sq.m (F)



Parcel 304 = 1,386 sq.m


Zone Ka3 = 1,386 sq.m ΣΔ = 140% ALLOWABLE AREA = 1,386 x 140% = 1,940 sq.m (G)





TOTAL PLANNING DEVELOPMENT AREA =(A) (B) (C) (D) (E) (F) (G) = 64,357 sq.m



Commercial Area = 5,600 sq.m


Residential Area = 58,757 sq.m



These parcels of land do not benefit from the announced Government Incentives relating to the increase of the Building Factor .



This development analysis is based on information provided and subject to change when a Topographical Survey is produced and discussions with the Authorities to establish whether the Parcels of land are subject to any street plan (ρυμοτομια) , new road constructions and any other issues that may impact development on the site .

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