LISTED HOUSE DEVELOPMENT PROJECT – PANO DEFTERA, NICOSIA
Asking Price: €180,000
Listed Property | Approved Plans | Development Potential
An opportunity to acquire a listed traditional house in Pano Deftera, Nicosia, together with a fully prepared redevelopment project and approved planning documentation.
The property is ideal for an investor, developer or private buyer looking for a distinctive residential project with significant development and financial potential.
PROPERTY DETAILS
Location: Pano Deftera, Nicosia
Plot Area: 275 m²
Land Registration: 0/1302
Plot No.: 723
Sheet/Plan: 30/1232V01
Planning Zone: Residential
Building Density: 120%
Existing / Proposed Listed Building: approximately 99.33 m²
Total proposed construction: approximately 161.63 m²
APPROVED DEVELOPMENT PROJECT
The property is being sold together with an architect-designed redevelopment project, including:
Ground floor
Upper floor
Covered verandas
Covered parking area
Storage / auxiliary spaces
Architectural elevations
Building sections
Detailed proposed layouts
The architectural plans have already been prepared and the planning permit has been obtained, allowing the purchaser to proceed with the remaining permits and construction process.
The project is therefore substantially more advanced than a conventional purchase of an undeveloped or unprepared property.
ADDITIONAL DEVELOPMENT VALUE
The plot has a 120% building density, with approximately 144.24 m² of remaining development density.
The remaining density is not required for the current project and provide an additional financial benefit through transfer/sale, subject to the applicable regulations and approvals.
GOVERNMENT INCENTIVE
The listed property also benefit from the applicable government financial incentive for the renovation of listed buildings, currently calculated at up to €1,700 per m², subject to the applicable scheme, eligibility requirements and maximum grant limit of €100,000.
Taking into account the potential government incentive together with the transferable development density and other project-related benefits, the estimated combined economic benefit is approximately €120,000–€130,000, subject to final confirmation and eligibility.
WHY THIS PROPERTY?
✔ Listed traditional property with character and architectural value
✔ 238 m² plot (after the delimitation)
✔ 120% building density
✔ Approximately 144 m² remaining development density
✔ Planning permit already obtained
✔ Architectural plans prepared
✔ Proposed project of approximately 161.63 m²
✔ Government incentive for listed-building renovation
✔ Project ready to proceed towards the remaining permits and construction
✔ Suitable for investment, development or private residence
✔ Located in Pano Deftera, an established residential area of Nicosia
INVESTMENT OPPORTUNITY
This property offers a rare combination of land value, listed-building status, approved planning, development potential and government incentives.
It is particularly suitable for a buyer who wishes to undertake a distinctive residential project while benefiting from an already-developed architectural concept and significant additional development value.
Asking Price: €180,000
Serious enquiries only.
Full architectural plans and supporting documentation are available upon request.
