Unique beachfront development plot
This property is a unique investment opportunity for a touristic or residential development in the island of Kefalonia. The property is a 215,000 land plot with a large frontage on a sandy beach, offering many development opportunities in an unspoiled natural environment.
The property is a large, beachfront land plot of 214,500 sqm, located on the south side of Kefalonia and directly accessible from the main road by car. The property is off the main road on a mild slope, which is 40m above the sea level. It has outstanding views to Lourdas bay and the island of Zakynthos towards the SW, mountain Ainos towards the NE and the ruins of old Venician Castle towards the NW. The SW boundary of the property is on a cliff over the sea, between two sandy beaches, of which only one is accessible. A small watercourse acts as a natural division splitting the property into two parts. Towards its boundary to the sea the plot is covered by a small pine forest which is protected and cannot be developed (23,000 sqm) and the banks of the watercourse are also forest areas and thus protected (30,000 sqm). This leaves a clear land of c. 161,500 sq.m. which is suitable for tourist, residential or mixed-use development.
The site is located near the Sissia Monastery, which is said to be named after the Saint Francis of Assisi who established it. There are ruins of the old monastery at the SE of the site and a new monastery has been built nearby.
The site is also crossed by the old Enecian road that connects the monastery with the old castle and is not in use any more. The area is not densely built with few small settlements, villas and small scale resorts, which are built around the bays with the beautiful sandy beaches which extend between steep rocky slopes. The area is green with small bushes, olive trees and other fruit trees. The landscape is complemented with the overwhelming beauty of the mountain Ainos (1,628m), which is covered with a pine tree forest, qualified as a national park.
Despite the fact that the site is located in a relatively isolated area, due to its size it can comprise a point of attraction and a landmark for the area on its own. There are at least two potential development opportunities the land plot offers:
Residential development - According to the current building regulations the site can be divided to smaller plot of 4,000 sqm each, on which luxury pool villas can be built. On each 4,000-sqm plot, a 400 sq.m. (GBA) villa could be built. These can be either sold individually or offer significant income via rental/time share arrangements. Condominium type ownership can also be proposed possibly offering some amenities to the settlement too.
Tourist resort development - A large scale, high quality, self-sufficient hotel/resort development can also be proposed benefiting from the size of the site and its exquisite location and views. According to the current planning regulations, there is a maximum development potential of c. 43,000 sq.m.
Mixed use development - According to a recently enacted law regarding integrated tourist resorts, a mixture of hotel and villas could be developed. The villas could be either sold on a freehold basis or let through a long-leasehold agreement. The maximum development potential in this case would be c. 32,000 sq.m. out of which c.9,600 sq.m. would be allocated to the residential element (villas, houses etc) and c. 22,400 sq.m. would be allocated to the tourist element (hotel).
Kefalonia is one of the most popular destinations of the Ionian Islands and the biggest island of the group. The Island has many wonderful beaches with fine sand and turquoise, bleach-like waters specific to it. Some of its many beauties are its picturesque villages, its National Park on its highest mountain (Mount Ainos) on which a rare species of fir forest grows and terrific landscapes. The property is located on the south of Kefalonia Island, half way between the villages of Argostoli and Poros. The island is well connected with the mainland and other Ionian islands by plane and by boat and there are numerous charter flights connecting Kefalonia daily with a number of European destinations, especially during the summer months.
Reaches the sea 2 km from the village of Simotata 15 km from the Airport 19 km from Argostoli 22 km from the port of Poros 5 min flight from Athens International Airport 1 ½ hours from the port of Killini by ferry