Commercial Plots in Strovolos, Nicosia
| Commercial Land | DP-CY18594
Description
The property comprises three adjacent commercial plots with a total area of approximately 8,094sq.m., strategically located on Limassol Avenue in the high-demand commercial area of Strovolos, Nicosia.
The property occupies a prominent position at the entrance of Nicosia, surrounded by established corporate buildings and retail developments.
The plots are flat and rectangular and benefit from approximately 390m of combined road frontage. They fall within commercial planning zone Εβ3, allowing for a building density of 160%, coverage of 50%, up to 6 floors and a maximum height of 24m.
The size, prominent location and planning characteristics provide potential for the development of a large-scale commercial or mixed-use project, subject to the necessary planning and building approvals.
Existing obsolete structures are scheduled for demolition, leaving the site suitable for future redevelopment.
The property benefits from three separate title deeds.
The property is held through a Special Purpose Vehicle (SPV). The acquisition of the company shares is stated to be exempt from Transfer Fees and VAT, subject to confirmation of the applicable transaction and tax conditions.