Commercial Building for Sale in Nicosia City Centre, Nicosia

Information from owner
The properties for sale are a commercial building and a vacant plot, that are centrally located in Trypiotis Quarter of Nicosia Municipality. The property is situated along Archbishop Makarios III Avenue, one of the most vibrant and popular streets of Nicosia. In the surrounding area there is a plethora of amenities and services such as banks, restaurants, cafes, shops and residential and commercial buildings.

It is a six storey building which was constructed 30 years ago (approx.). The vacant plot is asphalted and is used as a parking space. The building has an enclosed area of 2,500 sqm and consists of 14 shops on the ground floor and 12 offices on the 6 upper floors. All units in the building are vacant.

The vacant plot has 23 meters frontage on a registered road, while the building has 21 meters frontage on Makariou Ave.

The property lies within the ΠΕΖ planning zone (Commercial Development City Centre Zone), with Building Density of 250%.

The property has the potential for further commercial and residential development.

More importantly, it can also benefit from numerous planning incentives such as a substantial increase in the allowable building density, as it is within the area covered by the "Nicosia City Centre Local Plan".

The property is partially rented.