AN OPPORTUNITY FOR A SERIOUS PROPERTY DEVELOPER OR INVESTOR TO PURCHASE A 76 DONUM (25 ACRES) PLOT OF PRIME BUILDING LAND WITH PLANNING PERMISSION IN THE PROPERTY HOTSPOT AREA OF BOGAZ ISKELE, NORTHERN CYPRUS.
- Next to main coast road
- Front line beach
- Electricity and services
- 35% -
40% build density - Permission for 4 floors
- Ideal for resort hotel
- Close to amenities
- Short walk to Bogaz Harbour
- Close to Big Old Bazaar
- 30 minutes to Karpaz
- 20 minutes to Famagusta
- 200m beachfront
Asking Price:
£5,500,000 (GBP)
A rare opportunity to purchase this extraordinary front line, zero to the sea, plot of land in Bogaz, Iskele. This 76 Donum plot,(25 acres), has enormous potential for a variety of uses, either for upmarket residential properties or for a hotel/resort complex, or simply as a sound investment opportunity. This area of Northern Cyprus is truly the hotspot of the region with the stunning new resort hotels at Bafra underway and the commencement of the construction of the Karpaz Gate Marina on the Karpaz peninsular the potential is both obvious and real. The much publicised Big Old Bazaar is just minutes away and also under construction with the first 150 units close to completion. The shortage of quality accommodation in the area and the potential that the area is offering make this an excellent investment.
The beach land on offer is situated in Bogaz, Iskele a coastal village in Northern Cyprus very popular amongst tourists and locals. There is a shortage of top quality hotels in the area which may be an influencing factor when the purchaser decides whether to develop the land according to planning option 1 (Hotels) or planning option 2. (Villas and /or bungalows). In our opinion both options offer considerable potential for a healthy return on investment. An alternative may be for an investor to purchase and hold the land for later development.
Bogaz is considered to be the “gateway” to the Karpaz -
The Karpaz peninsula, (or the panhandle), is the easternmost part of the island of Cyprus, where the land tapers into a thin strip which stretches out towards Turkey. The area is rich in subterranean water reservoirs and thus crops such as tobacco are grown in abundance. Another main source of income in the region is fishing. Boğaz and Kumyalı are the fishing centres in the Karpaz.
As well as numerous Byzantine churches, the most notable the Monastery of Apostolos Andreas, the area boasts some of the finest countryside in the region. The Karpaz peninsula has been called the nature reserve of Cyprus for birds, wild flowers, and sea fossils are to be found everywhere.
Moreover, numerous picturesque beaches, both sandy and rocky, are said to be the
best in the whole island and home to one of the top ten beaches in the world. With
Pine, Cypress and Maquis trees covered hills reaching an altitude of about 1,000
metres makes the Karpaz region almost a perfect natural reserve.
The Karpas peninsula
is also almost totally free from any heavy concentration of industry and people,
and is one of the least polluted regions in the European periphery. Escaping the
last ice age, the island of Cyprus has managed to retain a substantial amount of
biological diversity with a significant amount of endemic species; plant species
number about 1,600 (22 endemic); bird species about 350 (7 endemic); and there are
26 reptile and amphibian species, most of for whom the Karpas is their natural home.
Also,
being on one of the main migration routes between Eastern Europe and Africa, each
year approximately 300 species amounting to millions of birds use this route in early
spring and late summer. Moreover, there are about 46 sandy beaches on the Karpaz
many of which provide the main nesting ground for the endangered Chelonia Mydas and
Caretta sea turtles. Each year about 1,500 rare female turtles lay eggs on the shores
of North Cyprus. The last colony of European Audouin Seagulls nest on the small Klidhes
(Kilit) isles at the tip of the Karpas Peninsula in North Cyprus. The Karpaz beaches
include Golden Beach which is rated one of the world’s finest and we understand to
be rated in the top ten.
PRESS RELEASES AND FUTURE TOURISTIC PLANS
The Bogaz and Iskele areas have now been included as part of the plan to expand tourism in the area. It is envisaged that the whole area from Bafra down will become a “New Las Vegas”, with sixteen 5 star concept hotels planned, shopping malls and further desalination plants are already underway.
PLANNING APPROVALS
For Hotel Purposes:
Total build area: 40% of total land area.
Total land area = 76 donums X 1,338 m² = 101,688 m² X 40% = 40,675 m² (say 40,000 m²)
If 15,000 m² is used for general purposes 25,000 m² will be remaining for rooms.
If a room is around 25 m² , about 1,000 rooms can be built.
Maximum ground usage: 15% of total land area.
Maximum height: 4 Floors or 53 feet.
Distance from neighbours borders: 50% of maximum height of the building.
Distance from the sea: 3 X maximum height of the building.
Distance from the main road: 50 feet.
For Villas, Bungalows purposes:
Total build area: 35% of total land area.
Maximum ground usage: 20% of total land area (If 2 floors and more)
Maximum ground usage: 25% of total land area (If I floor)
Maximum height: 2 Floors, 27 feet.
Maximum height: 1 Floor, 17 feet.
We apologise for the quality of the reproduction
A new marina is under construction at Yeni Erenkoy, a coastal village half way along the Karpaz peninsular. It will be large enough for 300 plus vessels, including Super Yachts. Restrictions on sailing along the territorial waters of the Turkish Republic of Northern Cyprus have now been lifted which means yachts will sail to this new and almost only available berthing spot in the Eastern Mediterranean. This will further add value to properties and investments in the area. The Karpaz area, to the north, will continue to be a protected area with very strict controls concerning over development to conserve the natural beauty of the region.It will be seen that this location is enormously attractive both from the perspective of the tourist industry and also for those seeking to purchase property here.
It is very unusual for a valuable tract of beach frontage land with planning approvals in place to come to the market in what many expect to be the next boom area in the Mediterranean. Current land and property prices in North Cyprus are still well below most other Mediterranean destinations and offer real potential for future growth. We would strongly recommend that potential investors contact us without delay in order to register your interest. Please leave your contact details on our information request form with the reference HP0425 and we will get back to you without delay.
