Asset Rich North Cyprus Property Development Company For Sale

Business description

A unique opportunity to acquire an established Property Development Company that is registered in North Cyprus.

The Company has a UK management and an English speaking construction team.

The Company has 4 land banks that are being developed. These are at Karsiyaka, Catalkoy and Kumyali. The total area being developed is some 40 donums or 13 acres. All the land has Turkish Republic of North Cyprus title deeds, planning consent and building permits.

Due to the high costs of construction loans from the banking sector in North Cyprus, the company has purchased this land from its own resources. There are no bank loans or any other charges on the land.

The main financial assets of the Company are -
Firstly, the prime location, undeveloped land valued at £909,000 GBP
Secondly, the current sites including all planning permissions, building permits and work in progress
Thirdly, the full architectural copyright to the iconic property designs
Fourthly, the main company website and two other websites which drive traffic to the main website

These tangible assets more than cover the asking price for the Company.

The Company has a range of stylish and iconic property designs which are attractive to expatriate buyers who make a purchase as either a holiday home or for retirement purposes.

The Company has a main website which has high rankings on popular search terms with Google, Yahoo and Bing. There are also two additional websites which drive traffic to the main site. All three websites are included on the sale.

The present founder and chairman wishes to retire, but will be available upon request to continue as a paid employee or consultant to the new owner.

Property information

Real Estate:

Real Property Included

Location:

The company operates in North Cyprus where the construction and architectural premises are based. The Management are based in the UK, with an office in Cardiff. The office can be transferred to any location as required by a new owner.

Premises details:

The company builds residential properties on land which it holds title deeds in its own name

Other information

Expansion potential:

The company has an outstanding land bank, a professional construction capability, but needs the enthusiasm of a youthful and energetic management team.

Planning consent:

All land banks have title deeds registered in the Company name, and all properties have planning consent and building permits.

Reasons for selling:

The present UK Chairman and founder wishes to retire due to old age.

Website:

www.wellestates.com

Related documents:

• 
• P&L and Balance Sheet