Description

For Sale Mixed Use Building in Nicosia 6 Floors Mixed Use Building in Nicosia for Sale*Pictures are available to be sent to any interested buyers. Location • On one of the most commercial streets of the capital • The wider area of the property is mainly developed with mixed use buildings consisting of shops, flats and offices. • Building Zone ΠΕΖ Core Commercial Zone 180% and Intermediate Commercial Zone External Features • Excellent building condition since the building was ed and now the owner is continuing to maintain it properly • Access to the building from two diffe streets, almost 360 views of Nicosia Internal Characteristics • 2,105sm internal area plus the 140sm basement. Basement, Ground floor plus 5 floors. Architect Plans provided in the online pictures • Modern Elevator, good quality flooring, false ceiling, AC’s, fire safety, fire exits, structured cabling Advantages Special Features • Attached to a parking with 155 parking spaces • Valuated at €4,475,000 in 2022 and the s price is €3,800,000 • Project eligible for €2,000,000 Grand for Student Accommodation Scheme. Existing plans for 43 rooms • The government grant is given to convert existing buildings to Student Accommodation – After 5 years of operation, conversion to any other use is possible  • Architect’s estimation to convert to Student Accommodation is at €2,700,000 (+vat) so the project can receive €2,000,000 grant. • Owner already applied for license and is waiting for approval • NO transfer fees since it is the only property owned by a company • Suitable for Student Accommodation, Hotel, Offices, or Conversion to self-contained flats and Rental Income