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Business for Sale

5* sports resort

Mandate ID: CY-2-AAR-8-2201-1
Transaction Type:
Business for Sale

Industry: Real Estate


Country of Origin: Cyprus | Cyprus


Target Areas: European Union, ME (Middle East countries), Central Europe


Business Review

Sports resort located in Cyprus

Financial Information

Price: €/$ on request


Highlights

The project will incorporate a unique self-contained leisure/sports project.
The project, in addition to a small number of sports fields that are planned to be constructed as part of the 5* Resort, a more comprehensive sports area is planned to be constructed in a plot almost adjacent to the Resort, with a number of fields, reception centres, locker rooms and many other sport-related facilities.
The Project will offer 3 football sport fields as well as 7 tennis courts.
The plot of land on which the Sport Fields are planned to be constructed constitute property of the Alaminos community and will be leased for a long period of time by the Project.
The local community is very positive with respect to the overall development and is willing to lease the property to the Resort for a significant number of years.
As per the project management, following their discussions with the land owners, they expect to sign an agreement for at least 33 years, plus at their option to extent for another 33 years.
Part of this land has already been licenced (Building Permit - B262/2015 - Reg. 026913) to accommodate a football pitch and sport facilities of world class dimensions and standards, having a total area of 20,800sq.m.
The management is also in discussions with the neighbouring land owners on leasing adjacent plots to be used for the sport facilities of this project, estimating an acquisition of not less than 100,000sq.m in total.

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