A high-end sports village for Mazotos village in Cyprus March 20, 2008Posted by grhomeboy in Architecture Infrastructure, Cyprus Limassol, Sports & Games, Tourism.
Tags: Architecture Greece, Cyprus, Destinations, Infrastructure, Limassol, Real Estate, Sports, Tourism, Travel
A branded sports tourist village featuring 300 properties has been announced near the village of Mazotos. Located between Larnaca and Limassol, the name behind the development is ex-England and Davis cup Tennis player David Lloyd.
The development will be a self-contained village created in a traditional Cypriot style, while affording the luxury and convenience demanded by modern life. The focus will be on sport, particularly racquets, but also canoeing and football. With meandering cobbled streets and a selection of coffee shops, eateries and supermarkets sprinkled throughout the development, it promises to deliver a self-contained environment with its own unique ambience.
Properties will be either one bedroom or two bedroom apartments, split 20% to 80% respectively, and will make up the development. A beach is 300 meters away, a marina which is scheduled for expansion and plans for a theme park two kilometres away. A Four Seasons 5-star luxury hotel in the immediate area is also being built. A journey time of 25 minutes from Larnaca airport allows for easy access.
The village will also be a magnet for those interested in taking their sport seriously, with the climate providing ideal training conditions for professional and novice athletes alike. Consequently, the rental yield is likely to be very high. Commercially, the development already has an independent rental guarantee programme in place which operates on a sliding scale depending upon the level of personal usage the owner wishes to take. The minimum is five per cent although higher rates can be obtained. There is no compulsion to take the rental guarantee. Owners may wish to control this aspect themselves instead.
Overseas property specialists Thomson OPI have announced their involvement in the project which they claim will deliver all the attributes of an outstanding investment. Mike Thomson, Managing Partner at the firm said: “It is rare for all the variables in property investment to come together at the same time. With this project all of the critical elements of successful property investment are positive. With low or no entry deposits, no stage payments and a remarkable ten-year index linked rental guarantee scheme offering 6.25 per cent per annum it means that investors can access the Cyprus property market with security.”
According to its website, “Thomson OPI sets itself apart by specialising in pure investment properties. While this is the primary criteria, superb lifestyle purchases can also be excellent investments.” The company is inviting investors to register their interest early to obtain preferential options in the development. “We offer to our clients our hand-picked properties which we ourselves have invested in,” Thomson explained. “This gives a measure of confidence to our clients that the appropriate due diligence has been completed. Additionally, we offer carefully selected opportunities through our partnership programmes.”
The likely financial structuring for acquisition in the development is consistent with Thomson OPI’s objective of delivering high capital growth opportunities whilst enabling easily affordable deposits payable over a long period of time. Sizes and prices are yet to be released, with completion scheduled for summer 2010.
According to the BuySell property index, 2007 saw prices increase by over 20 per cent, with the island set to enjoy continued double digit capital growth over the coming years. Key features of the development can be obtained by contacting Thomson OPI at: email@example.com.
The project in summary >
300 apartments, Sold fully furnished, Indoor and outdoor tennis, Full range of other sports activities, 300m to the beach and the marina, Water based activities, Concierge greeting service, Restaurants, bars, banqueting suite, Commercial Business Centre,
Supermarkets and shops, All year sunshine, PGA golf course 15 minutes away, Rental guarantee available (up to 10 years at a minimum of 6.25%), Low entry costs, 10% deposit with 5% upon delivery, Capital growth c. 12-15% per annum.