An excellent development opportunity in a mixed-use building located in one of the highest traffic areas of Nicosia, on Strovolou Avenue. The building comprises six floors with basement parking and is currently in an incomplete stage, offering the potential for refurbishment or renovation.
Property Layout:
Ground Floor & Mezzanine: Previously used as shops. Two open-plan shops, each with 2 toilets, 2 kitchenettes, and 18 parking spaces. Mezzanines include a toilet and kitchenette.
1st to 5th Floors: Identical floors previously used as offices, each with reception areas, offices, 6 toilets, and 2 kitchenettes.
6th Floor: When completed, designed to accommodate two three-bedroom apartments with walk-in wardrobes and en-suite bathrooms.
Additional Details:
Title deeds can be issued subject to obtaining the relevant permits, licenses, and fulfillment of any obligations.
There is a distribution agreement in place; any unused building density and coverage (density: 1,717m²; coverage: 583m²) benefits the property.
A lease agreement exists (dated 30/07/2020 for 10 years, 01/08/2020 – 31/07/2030, with renewal rights), but the property is currently vacant due to ongoing legal proceedings concerning the tenancy.
Location:
Strovolou Avenue, with road frontage of approximately 42m
~100m southwest of Athalassis Avenue and Strovolou Police Station
~80m southwest of the junction connecting Strovolou and Athalassis Avenue
~350m south of the Proedrikou Megarou roundabout, connecting Strovolou, Dimostheni Severi, and Kyriakou Matsi Avenue
Planning and Zoning:
Zone: Eβ3
Building coefficient: 160%
Coverage: 50%
Permissible floors: 6 (up to 24m)
Energy Rating: G
Units Description:
Unit 1
Enclosed area: 701 m²
Floor: Basement L1
Parking spaces: 34
Ideal for storage, workshop, or large-scale office use with extensive parking.
Unit 2
Enclosed area: 297 m²
Kitchens: 4
WCs: 4
Parking spaces: 18
Suitable for office or commercial use, with multiple kitchens and restroom facilities.
Unit 3
Enclosed area: 205 m²
Floor: 1st
Kitchens: 2
WCs: 2
Perfect for small offices or commercial units with basic amenities.
Unit 4
Enclosed area: 274 m²
Floor: 1st
Kitchens: 2
WCs: 6
Offers flexible office or commercial space with multiple restrooms for staff convenience.
Unit 5
Enclosed area: 274 m²
Floor: 2nd
Kitchens: 2
WCs: 6
Designed for office or commercial use with spacious layouts and ample restroom facilities.
Unit 6
Enclosed area: 274 m²
Floor: 3rd
Kitchens: 2
WCs: 6
Ideal for professional offices or commercial use with multiple workspaces.
Unit 7
Enclosed area: 274 m²
Floor: 4th
Kitchens: 2
WCs: 6
Flexible office space suitable for medium-sized teams or commercial operations.
Unit 8
Enclosed area: 201 m²
Helping area: 56 m²
Floor: 5th
Kitchens: 2
Bathrooms: 4
WCs: 4
Offers a combination of office and supporting spaces, with additional bathrooms and helper area, suitable for executive offices or residential-style commercial use.
Please note that the windows have been removed from the building.
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