Fisheries Port Redevelopment & Waterfront Destination Study, Cyprus

Navigator Consulting undertook a strategic feasibility study for the acquisition and redevelopment of an underutilised private fishing harbour and aquaculture facility located on the southern coast of Cyprus.

Originally developed as a commercial fishing port supporting offshore marine aquaculture operations, the facility had gradually become abandoned following the decline of the business, leaving a strategically located waterfront property with substantial redevelopment potential.

The project evaluated the commercial feasibility of transforming the obsolete fisheries and aquaculture facility into an integrated waterfront leisure destination centred on hospitality, recreation and marine tourism. The concept combined a boutique seaside hotel, beachfront restaurant, leisure facilities and marina services, while preserving and upgrading key coastal infrastructure, including the harbour basin, breakwater and dock facilities.

Particular emphasis was placed on maximising the value of a scarce coastal asset through adaptive re-use, environmental rehabilitation and the creation of a high-quality tourism destination capable of serving both local residents and international visitors.

Services provided included:

Strategic assessment of redevelopment opportunities for the existing fisheries harbour and aquaculture facilities.
Highest and best use analysis for the waterfront property.
Commercial feasibility study and financial modelling.
Acquisition strategy and investment appraisal.
Property valuation and redevelopment economics.
Coastal engineering and rehabilitation assessment.
Breakwater and dock rehabilitation analysis.
Beach reconstruction strategy, including shoreline stabilisation and the introduction of imported sand and pebble beach.
Marina and small harbour redevelopment concept.
Boutique hotel concept development (20 rooms).
Restaurant, café and beach club concept development.
Beachfront leisure facilities, including sunbeds, umbrellas and recreational amenities.
Children's play area and family recreation facilities.
Parking and visitor access planning.
Masterplanning and land-use optimisation.
Tourism market assessment and visitor demand analysis.
Revenue modelling covering accommodation, food and beverage, marina services and beach operations.
Environmental and coastal zone management assessment.
Operational strategy and long-term asset management recommendations.

The study demonstrated how obsolete coastal industrial infrastructure could be successfully repositioned as a high-value mixed-use tourism destination through integrated planning, environmental rehabilitation and commercial redevelopment. By combining hospitality, waterfront leisure, marina services and public beach improvements, the project illustrated a sustainable approach to unlocking the value of underutilised coastal assets while enhancing tourism, recreation and the local economy.

Confidentiality Notice

The projects presented herein are actual examples of Navigator's consulting project experience. Stock photography and conceptual images are used for illustrative purposes only and may not depict the actual project, client, owner or location. Certain technical, financial and commercial information has been modified, generalised or omitted in order to preserve client confidentiality and commercially sensitive information.

Client:
Client Confidential

Date of Engagement:
2017

Countries of Operation:
Cyprus

Business Function:Coastal Asset Transformation, Waterfront Redevelopment, Marina Development, Tourism Development, Mixed-Use Development, Investment Appraisal, Feasibility Studies, Coastal Zone Management, Hospitality Strategy, Financial Modelling

Business Sector:

Agriculture & Fisheries

Port Development

Hotel Development