Mixed-use building in the Old Nicosia Centre

Description

Commanding a premium position in the Old Centre of Nicosia, just 500m from Eleftheria Square and 80m from Ledra Street, this mixed-use building offers a covered area of 725sqm plus 35sqm of covered verandas on a 398sqm plot. The building comprises three shops on the ground floor (total 375sqm), an exhibition space on the first floor (350sqm) and a bar located on the rooftop terrace (350sqm). Two of the ground-floor shops are tenanted, offering a steady return, while the third shop and the first floor are vacant, providing immediate flexibility for an incoming owner. Surrounded by shops, restaurants and services, the property is ideal for the development of a city boutique hotel or student accommodation, and is eligible for government incentives targeting the rejuvenation of the Walled City of Nicosia. Built in 1955 (Energy Class D) within a commercial zone allowing 160% building density and up to 3 floors, the building is offered for sale at €1,015,000 with no VAT.