£350,000 PER VILLA - COST OF LAND AND BUILD
Period of build – March 2008 to March 2009 - 12 months
Current valuation when built - £450,000 to £500,000
Off-plan payment required of 43% = £150k
Balance payable on completion - Mortgages available
Each unit has a living space of 133.86 square meters on three floors and comprises of; Three ensuite double bedrooms, Drawing room, Dining room, Kitchen, Covered terrace, Outside Bar-b-cue and Pergolas, with landscaped terraces, and swimming pool.
The units will have fully fitted Kitchens, Bedrooms, and Bathrooms. All Bathrooms will include bath and shower or wet room. Construction will be carried out to a luxury finish.
The construction of a private gated complex, incorporating four detached villas set in landscaped gardens of approximately 1,000 square meters of land per villa, with individual driveways parking, swimming pool, pool area, landscaping, pergolas, and terracing.
The land area is approximately 10,000.00 m2 and is situated on the southern side of the island in the exclusive area of Sklithri, designated a forest area and therefore protected from development by Greek Law. However the land in question is one of the few areas in this region which has olive trees covering an area in excess of 4000 sq. metres, thus designating it as commercial land and therefore eligible for development. The land in question has cultivated olive trees and is serviced by a recently constructed private access road.
The land is free of any charges or local taxes. It rises from the valley in a west to easterly direction; its lowest point is bordered by a stream which runs into the sea some 200 metres to the south. The land is valley shaped northeast to southwest starting 17.70 metres above sea level and rising to a saddle back 69 metres above sea level at its highest point, bordered to the east by pine forest.
RETURN
Profit on £350k off-plan price - £100k to £150k = 28% to 43%
Profit on deposit investment of £150k (remainder mortgaged until re-sold) = 66% to 110%
Retain ownership to rent at £2500 per week for 30 weeks = £75k pa
Please contact Watson Homes on 0208 952 8444 to find out more about this unique and great property investment deal.