Price Reduced from £1,600,000. If you are looking for a great business in the buy to let game, then look no further than this complex of 16 villas which are all being sold together on 5600 square metres of land opposite the beach. The villas are divided into six three bedroom detached villas, and ten two bedroom semidetached villas, all built to a luxurious finish and located opposite the sea in the popular area of Iskele. The style of the properties is totally unique, with well-maintained garden area and a large pool plus kiddie’s pool. Reference HP1904
The Rental Potential
- November – April £500 per week
- May – October £750 per week
SEMI DETACHED PROPERTIES
- November – April £350 per week
- May – October £550 per week
Figures based on full occupation during the peak season and 50% during non peak
27 weeks in peak season
- 27 x £750 = £20,250 x 6 villas = £121,500
- 27 x £550 = £14,850 x 10 villas = £148,500
14 weeks off peak
- 14 x £550 = £7,000 x 6 villas = £42,000
- 14 x £350 = £4,900 x 10 villas = £49,000
TOTAL FOR THE YEAR = £361,000
It may work to exclude one of the semi detached properties for on site Management and an office and maybe even a small market, with the maintenance team being on site 24 hours a day.
Costs for on site Management + pool / Garden cleaning £3,500 if managed by Busy Bees , TOTAL £42,000 per annum
The profit would be subject to taxes which can be discussed in further detail with viewing prospects.
As foreign investors cannot buy more than one property, the complex comes with a Company that is being sold within the price.
Local Amenities and Attractions Travelling Times
Nearest Large Supermarket - 5 minute drive
Chemist & Clinic - 10 minute drive
İskele – 10 minutes
Long Beach Area – 5 minutes’ walk
Salamis Ruins And St Barnabas Abbey – 10 minutes
Famagusta City – 20 minutes
Karpaz Gate Marina – 50 minutes
Karpaz Peninsular – 1 hour drive
Ercan Airport – 40 minutes
Larnaca Airport – 1 hr 10 mins
The Region Long Beach Iskele
The name for this area is not a stretch of the imagination, it truly is a long and sandy beach with plenty of room for sun bathing and shallow water for safe swimming. Located on the eastern coast in Famagusta Bay, this exciting area is becoming very popular.
This sought after area of Long Beach is on the very best coastline in Northern Cyprus where the golden sandy beaches stretch for miles. Choose from several restaurants in which to dine and watch the superb sunset, or maybe take the ten minute drive into the Historic Cıty of Famagusta, which will keep you entertained forever, with its fascinating mix of old and new.
If you would like to learn more about the area: Click Here. http://www.busybeesestateagents-cyprus.net/island/bogaz/