For Sale Or Investment
8.6 acres of Freehold land in Northern Cyprus with full planning permission for a 5 star leisure development comprising of 409 luxury units including a hotel, leisure and conference facilties, health spa, restaurants, pools and gardens
Potential pre-unification profit of £19m+
We are seeking a buyer or an investor to enable work to begin and a pre-unification profit of £19m+ to be realised over a four year build programme. Further information and price upon application.
£19M+ PROFIT BASED ON PRE-UNIFICATION PRICES.
Property prices in Northern Cyprus are the lowest in Europe, offering the most exciting investment opportunity in the Mediterranean. For the first time in years the north and south divide is set to be resolved, shrewd investors have already entered the market in the knowledge that prices will find parity with other European Resorts as reunification becomes a reality.
If you are a developer looking to maximise returns on your investment WHITEROCKS may be an ideal opportunity.
Permission has been granted for a luxury development comprising 409 residential units including a hotel, health spa, restaurants, pools and gardens, with a separate retail development comprising of 5 units – all with full planning approval and building permits in place.
- Road infrastructure and desalination plant.
- 11 complexes on 4 and 5 levels.
- A total of 96 stunning 2 bedroom apartments.
- All with 2 balconies providing views to the sea and to the conservation countryside.
- Open plan living, dining and kitchen with full-height, sliding glazed screens bringing the outdoors indoors.
- Communal rooftop balcony with barbecue.
- Communal Pools and Gardens.
- 4 linked terraced complexes.
- A total of 146 apartments and penthouses.
- A choice of individual designs from a 1 bedroom apartment, to a 6th floor 3 bed rooftop penthouse – all with communal gardens.
- Two individual complexes with a communal feature pool.
- A total of 123 properties from 1 bedroom apartments to 2 storey duplex apartments and penthouses.
- All properties have two balconies and face the village square on one side, and the conservation area and Mediterranean Sea on the other.
- Boutique Hotel.
- Gym, Health Spa, Restaurants, shopping complex and other leisure facilities.
- A superb mix of detached villas, junior villas and houses all individually designed
- A total of 26 luxury apartments units, 10 detached houses and 8 semi detached villas.
- All properties have private parking.
- Separate Retail development with 5 individual Retail units with parking.
The Development Team
The Development is fully designed, costed and detailed by IDL and Atelier-M Architects, employing consultants, lawyers, interior designers and visualisers.
IDL are an international award-winning Architectural practice based in London, they have designed and built residential and commercial schemes throughout Europe and further afield for clients such as Hugo Boss, M&S, Galeria Melissa, John Lewis, and Matches. Atelier-M are local architects, with a reputation for super-prime, quality residential developments in Northern Cyprus, established over 15 years.
The contracts, title deeds and documentation are all signed and agreed through one of the leading lawyers in Cyprus, Oguzhan Hasipoglu and the marketing team, responsible for the marketing collateral and website are an award-winning, London based agency Consultants in Design, currently working for Bulgari Hotels, Northacre PLC, Strutt & Parker and other international property developers.
The Whiterocks, luxury development has been approved by the local planning authorities, a building permit is in place to start work immediately and this team is available and ready to work with you to deliver the vision they have created.
RCI - A unique international partnership
In addition to the land, the development design, detailing drawings, schedules, cost plans, planning and building permits; Whiterocks have negotiated a unique partnership with RCI. Whiterocks has been identified as one of the only properties in Northern Cyprus RCI will partner with for ‘Rental and Exchange’. New owners will be able to rent out their apartment throughout the year, receiving 70% of the nett income, or they may exchange income for points and choose to holiday anywhere in the World via RCI’s portfolio of over 3,500,000 properties. All the benefits of timeshare, but still owning their property and able to sell anytime they want. Whiterocks association with RCI will greatly improve the value of the properties and the outlook for the development once it is complete – as new owners will be able to benefit and travel to other holiday destinations in exchange for weeks in their apartment.
The potential profit against a total investment of £37.07m across all phases of work, including the procurement price, is £19m+ based on a world class, quality development not yet seen in Cyprus. Each Phase of the development has been fully costed, reviewed and approved. The unique location of the site, as well as the re-unification between North and South, means the profit margin may well be higher.
Profit / Build comparison
Profit / Build comparison
Our costs include everything, including the furniture
Luxury furniture, fixtures and fittings are included in the cost analysis so that all residential properties come with state of the art electronics and appliances, in fact its 5 star throughout.
A signature feature of the Whiterocks residencies is the emphasis on open plan living, high ceilings, and an overwhelming feeling of space and light. Every apartment has two balconies offering stunning views and a 360 degree vista. An ultra-quiet centrally controlled air conditioning system with individual digital control to every room, will ensure maximum comfort in winter or summer. Every detail of the development has been considered and carefully designed to create a World class development far in excess of the standard available anywhere on the island.
Unique selling points
- Freehold site – (Escheder title).
- Coastal location with World Class Leisure and games facilities next door.
- Full planning permission granted for 409 luxury residential units and a Retail site comprising of 5 units with parking.
- RCI Partnership agreement providing unequalled opportunities for rents and exchange.
- Full detailed design, drawing package and finishes schedule in place, costed and approved.
- Full cost analysis of all phases of work.
- Full building permit in place.
- Local and international Architects and project managers, in place ready to start the work.
- Local network of lawyers, planners and builders fully established.
- Full sales website, domain names and marketing collateral designed, available and included in the price.
- Potentially £19m+ profits to be made pre-unification.
- Immediate sale and exchange.
Whiterocks is located in Bafra, a virgin coastal area with golden sands throughout and the Kyrenian mountains behind, presently it is the only officially designated Tourism area in Northern Cyprus. Up to ten internationally recognized 5 star hotels are in the process of being built along this coastline with a range of world class facilities in close proximity, including a golf course, a water park and sports complex. The Turkish Government have funded the infrastructure to support these developments and the scale and quality of the work so far, is very impressive. This investment demonstrates the long term commitment to the area and underlines the potential value of Whiterocks.
An unique investment opportunity
For Sale or Investment
Following several years of design and research, permission has been granted for a high density luxury development with a potential profit of £19m+. The land value itself is set to increase, but the greater value is in building the resort in accordance with the planning permit and building consents agreed and set in place.
The freehold deeds; planning permissions; build permits; marketing materials; website; detailed drawings; CGis and visuals; finishes schedules and full cost analysis are all included in the sale price.
Planning permission has been approved and building permits are in place for a high-density world-class development with full cost analysis; detailed drawings; finishes schedules; works programme; marketing materials and website – all approved and ready to go. In addition a full works team, Contractors, Architects, Quantity Surveyors, Project Mangers and Designers are on standby ready to start work immediately. The costs associated to deliver all phases of work are approximately 37m; delivering profits in excess of 19m. We are looking for investors willing to subsidize the build and development programme as set out in the detailed cost analysis, utilizing the agreed design and the established team, to realize the full profit potential of the scheme.