Designed by the London-based and award-winning international architect Scott Brownrigg, the Commercial and Residential concept will undeniably be one of the most elegant commercial buildings. The Project is set to be one of the tallest buildings (height over 100m), located on the seafront, and right in the heart of the Cosmopolitan city combining modern lifestyle with history and culture. It is a business and financial hub with a large number of local and international companies surrounded by a further network of hotels, restaurants, and other venues for entertainment and leisure.
The current planning permit offers .18 floors of offices; 2 retail on the ground floor; 2 mezzanines. 274 parking spaces, 143 of which will be available to the public.
Commercial building 6,500 Sq.m. 6 whole floor apartments Residential building 1,362 Sq.m. Approved building coefficient 4,097 Sq.m. The building coefficient will increase with an extra 3,766 Sq.m. Total building area 7,863 Sq.m.
The Project will stand over 100m tall and due to its prime waterfront location, guarantees unobstructed breathtaking views of the Sea. The Tower’s faceted glass and crystalline geometry maximize its transparency from the outside and the sea views from within the office floors. The two Sky Gardens located on floors 7 and 17, give uninterrupted 360° degree views across the city and the sea.
The two Sky Gardens positioned in the middle and on the top of the tower floors 7 and 17, boost its Green personality and the stylish way of social encountering. They give uninterrupted 360º degree views across the city of Limassol. They are truly unique spaces that have been designed to create an open and vibrant place to re-energise. Possible uses for the Sky Gardens areas include a gym, lounge area for relaxation, reading, meetings, gallery, library etc.
The Project is an 18-floor commercial building oriented towards commercial uses which also includes a residential separate building located on the east side of the main tower.
The modern residential building will consist of 6 Luxury floor apartments just a few steps from the beach. Each apartment covers 246m2 (covered and uncovered areas) and comprises a lavish entrée and spacious living room area followed by a large dining area and upgraded lighting design for a spectacular ambiance. Its grand kitchen has premium stainless steel appliances and stylish marble flooring. The 3 large bedrooms all have solid wooden floors while their en-suite bathrooms are designed to combine luxury and comfort. Automation systems are fitted throughout each apartment, offering functionality and simplicity in using lighting and sound. Furnished with top-range materials, each apartment is uniquely designed.
For Sale: The Tower & The Residential Apartment Building is available for off-plan purchase, together with a Local Cyprus PLC Company, resulting in no VAT and no land transfer fees for the buyer.
The sale price is €23 million, while construction for both Buildings, Commercial and residential is estimated at approximately €32-33 million. Total expenses will be €55-56 Million.
The sale of each of 6 apartments based on 246 m sq each will be approx. €2.5 million x 6= €15 Million Residencial Building.
Commercial Tower will be better on Rental Option: For potential investors, the rental option is highly attractive. Based on the current market value per square meter, the annual income is projected to be €5.5 million, in addition to a maintenance fee of €265,000. This means your ROI will be back in 5-6 Years only and after that €5.5-€6.5 million each year will be a Profit.
Additional Benefits:
Work Permit: Upon acquiring a local business, the investor and their extended family members become eligible for a work permit. This allows them to actively participate in the business's operations, contributing to its success and gaining valuable work experience in Cyprus.
Residency in Cyprus: Investment in a local business not only grants you a work permit but also the right to reside in Cyprus. This means you and your family can call this beautiful Mediterranean island your home, enjoying its rich culture, favorable climate, and quality of life.
Travel Throughout Europe: Cyprus' strategic location as an EU member state provides investors with easy access to the European Union and Schengen Area. You can travel freely and conveniently throughout Europe for business or leisure purposes, making Cyprus an ideal base for international travel.
European Passport Opportunity: Cyprus offers a unique path to European citizenship. After seven years of continuous residency, investors and their family members may become eligible to apply for a Cypriot passport. This European passport opens doors to numerous benefits, including visa-free travel to a vast number of countries, enhanced business opportunities, and access to European healthcare and education systems.
These additional benefits further underscore the attractiveness of investing in a local business in Cyprus, not only as a sound business venture but also as a pathway to broader opportunities for you and your family in Europe.
For more financial information and yield rent and sale factors, please get in touch by email with Tanya Burgwin. Please note that KYC of the Buyer and NDA will be required to access the financial projective plan prepared by KPMG.
