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BUSINESS REFERENCE : CR17 / RightBiz DEVELOPMENT LAND OPPORTUNITY | | | | | | Development Land Opportunity on the Costa Calida Ref No: CR17 Location: Mazarron, Spain Asking Price : £ 6,247,000 Asking Price € 9,200,000 Subject to contract Based on Currency Exchange Rate 1 EUR = 0.678995 GBP | | | BUSINESS LOCATION: | Undisclosed Relocatable SPAIN | | BUSINESS SECTOR: | Commercial Property | | TRADE TYPE: | Land & Development Companies | | SALE: | Agent Sale | FREEHOLD: | £6247000 | | | | | | | | | | | BUSINESS DETAILS: | Overview
Unique opportunity has arisen for the purchase of a substantial development plot within the picturesque area of Mazarron, Spain.
The property, known as “Canades del Romero” , is located close to the towns of Mazarron and Totana. Mazarron is a bustling beach side resort with a large contingent of holiday properties. Totana is a charming Spanish town with an abundance of shops, bars & restaurants.
Recent planning has been agreed for a motorway linking Totana and the thriving coastal town of Mazarron, making access from the development site extremely easy.
Within the immediate vicinity are several large established urbanisation's which are continually expanding to meet the ever increasing demands for holiday/retirement properties. In particular, Polaris World are developing one of Spain’s largest projects, with over 19,000 homes and three golf courses. The Polaris site is situated 2 kilometres from this land.
Property Details
The property covers an area of 381,582 m2 with excellent drainage facilities. Water and electricity supplies are close at hand. The gentle undulation of the land allows minimal excavation to be performed prior to construction.
The build ratio applied for is 18% , allowing a constructable area of 69,840 m2. The plans submitted encompass a variety of build type, from studio apartments through to large detached private villa’s. Plus the allowance for a hotel.
The ethos of the urbanisation development has been with a view to provide a secure and affordable retirement/second home community. The planning application made particular reference to the security, medical and social amenities available on-site.
Financial Details:
The property is being sold as a freehold for the sum of: € 9,200,000
Land Purchase € 9,200,000
Infrastructure Cost € 10,670,000
Building Construction cost € 45,396,000
(€ 650 per m2 times 69,840m2)
Community & Common Area’s € 6,595,000
Selling & Marketing € 16,063,200
Architect and legal € 6,266,200
Total Development Cost € 94,190,400
Saleable Market Value € 160,632,000
(€2,300 per m2 times 69,840 m2)
Gross Profit ( 3 to 5 year term) € 66,441,600 (71.75% return) | | | | | BUSINESS STATUS: | FOR SALE | | | | | SELLER: | TURNER BUTLER | | CONTACT: | 01895 25 6000 | | REFERENCE: | CR17 / RightBiz | | ENQUIRIES: | | | | | | | | | | | | | | | | | | | | |
