Property ID :24894-FoTi

For Sale Seaside Land in Paphos, Ideal for 5 Star Hotel.Cyprus

€27,000,000

Property Type: Parcel
Size: 0.00 m2
Address: Kafizi, Peyia, Cyprus
Tel : 028 3083 4015 (Lo-call) (From UK)
Tel : 0044 28 3083 4015 (outside uk)
㊜ Furnished: No
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The property consists of two similar plots which constitute a single unified proprietorial unit. It is situated in the area of Sea Caves, within the administrative area of the Municipality of Peyia, northwest of Paphos, at a distance of about 1.5 km southwest of the picturesque church of Agios Georgios of Peyia built on the sea rocks.The area of Sea Caves has become widely known as one of the most interesting natural spots of Cyprus with unique natural features and an exceptional character and has attracted an interest beyond Cyprus. Because of this character, there has been intense building activity in the area which has become popular for tourist and residential development with quality and luxury houses and large villas. A number of villas have already been constructed in the area and many sites have been divided by land developers into building plots for which there is substantial demand.The accessibility of the area of Sea Caves, by an asphalted road, has been improved substantially through its direct connection with the area of Coral Bay.The property situated in the western part of the wider area of Sea Caves has a rather regular shape and a slightly inclined surface. Its amphitheatrical morphology, combined with its projected and prominent position, offers unlimited and unobstructed view towards the superb scenery of the line of picturesque little bays of unique beauty, of the islet of Maniki opposite, and of the sea beyond, of the island of Yeronisos to the north and of the Sea Caves.The property adjoins the breathtaking coastline at a wide angle. On its western side, it also adjoins a public path which ends at Agios Georgios.The many different privileges the property offers and its excellent prospects, in comparison also with other similar properties, create for it monopolistic characteristics.Planning Characteristics:The property is within the Tourist Development Zone. It falls within planning zone T2b, and as such it has the possibility for a wide range of tourist utilization, including a hotel, with satisfactory building and coverage factors.It should be noted that the extend of the Tourist zone in the particular area is very limited, for there is a large number of small-sized plots which exclude the construction of hotels and restrict permitted development to other utilization with reduced factors. The limited offer in combination with the demand affects positively the market value of the property.Hotel Use: B.F. 40%, C.F. 25%, 2 Floors, 8.3m Max. Height of BuildingTourist Villages/Villas Use: B.F. 35%, C.F. 25%, 2 Floors, 8.3m Max. Height of BuildingHouses Use: B.F. 20%, C.F. 20%, 2 Floors, 8.3m Max. Height of BuildingLand size: 37125 square meters, Listing No: 1293

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