Ref: 1410

For Sale
Six Floors Commercial Building and Vacant Plot in Nicosia Centre

The properties for sale are a commercial building and a vacant plot, located in a unique and central location in Trypiotis Quarter of Nicosia Municipality. The property is situated on Arch. Makarios 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. It is a six storey building which was constructed 30 years ago (approx.). The vacant building plot is used as a parking space.

The building has an enclosed area of 3,400 sqm and consists of 14 shops on the ground floor and 12 offices on the 6 upper floors. Part of the shops and offices are currently rented. The vacant plot has 23 m frontage on Zinas Kanther Str., while the building has 21 m frontage on Makariou Ave.

The property lies within the ΠΕΖ planning zone (Commercial Development City Centre Zone), with Building coefficient 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".

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