The project is located in the heart of the city center within the technical university boundaries and within walking distance to the sea, the promenade, the new marina and all the luxury offices within the historic center and the ones recently setup in the New marina area.

This is a project with immediate benefits with ALL permits in place. 

The immediate benefits are:

Purposely created company owning 100% shares of the real estate property. The company owns only this property and will be a transfer of shares 100% under the name of the buyer.

The Buyer will save 19% VAT on the selling price which is approximately 494.000 euro based on the 2.600.000 euro asking price

The Buyer will save Land Registry transfer fees approximately 100.000 euro.

Project Characteristics:

Total 12 Apartments.

Ground Floor Parking Space (Ground Area).

Lobby Area, stairs and elevator - some historic buildings do no have an elevator.

There are 10 studios and 2 one bedroom flats on 1st, 2nd & 3rd Floor.

Roof Garden with a pool (3m X 8m), barbeque area, sitting & relaxing area, sun beds with umbrellas, shower and w.c on the 4th Floor.

The style of the building will be the one of the old city with doors, windows, woodwork & iron work blended with pastel historic center approved colors to remind how the old city looked at its prime keeping the authentic style of the area.

There will be a remote-controlled private car entrance and a separate entrance to the lobby of the building. The face of the building will be a "Π" shape representing a corner location of the old city.

12-15 month for the project to completed and delivered. 

Project Location Distances.

Distance to Anexartisias Shopping Street , 90 meters

Distance to Sea Front , 300 meters

Distance to Old Castle , 750 meters

Distance to Old and New Marina , 800 meters

Based on conservative calculations the project can yield close to 4% Rental Return based on long term minimum 12 month rental contracts.

The location is perfect for short daily / monthly lets which could yield anything bewenn 8 - 10% return. The location does not lend itself for only tourist lets but also business customers hence much more profitable than tourist area flats.