Office Tower – Commercial Real Estate Investment Project (Cyprus)

  • Reference: IO-CYP-010 
  • Sector: Real Estate 
  • Region: Europe 
  • Country: Cyprus 
  • Price: €18,500,000 
  • Sales: Confidential 
  • EBITDA: Confidential 
  • Assets: Nearly permitted project, designs & land available for sale 
  • Telephone: (357) 22504200 Cyprus 
  • Email: cyprus@connecor.com 

Real estate investment opportunity to develop a mixed use office and retail tower in Cyprus

General information:

– Prime sea-front plot location, with unobstructed views
– High traffic area with proximity to the newly built Limassol Marina, and to the central business district of Limassol, and other important venues
– Commercial zoning will allow for the development of 12 floors of offices and retail space, to be rented or sold
– Additional 4 or 5 basements will be developed for own and public use parking, at an area where paid covered parking is in high demand
– Plot is covered by water, electricity, sewage and telephony services
– Plot size: 2.352 sq. met.
– Total expected construction: 17,400 sq. met. composed of around 10,100 sq. met of office and retail space, and another 7,300 sq. met of basement parking with future cash flows
– Total of 36 office units to be developed (3 office units on each floor)
– Construction cost estimate: office cost around €2.000 per sq. metre and basement cost around €1.100 per sq. metre
– Estimated revenue: confidential – available on request

Investor Options: 

For Property Developer:

1. Joint venture with the owner to develop the project at an additional cost of approximately €30,000,000, and to sell and/or rent it
2. Buy the SPV or the land at €18.500.000, and develop the project alone. Title deeds to the plots available

For any Business wishing to develop its own Office Tower in Limassol: 

1. Buy the SPV or the land at a cost at €18.500.000, and develop the project alone. Title deeds to the plots available