For Sale, Building, Nicosia, 1,572m², €7,500,000

Description

The propertiesfor sale are a commercial building and avacant plot, that are centrally located in Trypiotis Quarter of Nicosia Municipality. The propertyis situated along ArchbishopMakarios III Avenue(Makariou), 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.The property issituated approximately 200 meters southeast of the junction of Makariou and Evagorou Avenues and approximately 100 meters northwest of the junction of Makariou and Stasandrou Avenues.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 consistsof 14 shops on the ground floor and 12 offices on the 6 upper floors. All units in the building are vacant.The vacant plothas23 meters frontage on Zinas Kanther Str., while the building has21 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 furthercommercial 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".

Features