City Center Investment

Property Description

The five storey building comprises 74 shops across four levels with an area of 25 to 250 m2 per unit and an underground parking lot accommodating up to 75 vehicles with access to the main building through stairways and elevators.The underground level has an area of 943 m2, the ground floor 778m2, the 1st floor 819 m2, the second floor 897 m2 and the third floor is all one unit with an area of 1232 m2. The property's total area is 2,447 m2 and is located in a building zone with 250% building density. The building's total area is 4670m2. As part of the 'Nicosia Local Plan', the government offers incentives that allow for the enlargement of the property with an increased building density of 425%. New developers will thus be able to build up to 10,400m2.The ideal location offers promising prospects for new investors looking to transform the current building into a modern shopping center, convention center, business office or health-care center. If remodelled, the property even has the potential to establish a residential building , or an all suites hotel.