An incomplete six-storey mixed-use building in Strovolou Avenue, Nicosia

An excellent development opportunity in a mixed-use building, situated in one of the highest traffic areas of Nicosia, Strovolou Avenue.
The building consists of six floors with a basement parking area and is in an incomplete stage of construction, ready for refurbishment/renovation.
The ground floor and mezzanine levels were previously used as shops, floors 1st-5th have been used as offices, and the 6th floor has been used as 2 three bedroom apartments.
The ground floor consists of two open-plan shops, each having 2 toilets, 2 kitchenettes, 18 parking spaces, and mezzanines with a toilet and a kitchenette.
1st to 5th floors are identical and consist of reception areas, offices, 6 toilets, and 2 kitchenettes.
The 6th floor, when finished, will consist of 2 three-bedroom apartments with walk-in wardrobes and en suite showers.

Title deeds for the property can be issued subject to acquiring the relevant permits and licenses and fulfilling any obligations.

There is a distribution agreement in place, and any inexhaustible building density and coverage (Density calculated at 1,717sq.m. - Coverage calculated at 583sq.m.) benefits the subject share.


The property is located on Strovolou Avenue, with a road frontage of approximately 42 sq.m east of Pediaios River, approximately 100 meters southwest of Athalassis Ave. and Strovolou Police Station, approximately 80 meters southwest of the junction that connects Strovolou and Athalassis Ave., and approximately 350 meters south of the roundabout (known as `Proedrikou Megarou`) which connects Strovolou, Dimostheni Severi and Kyriakou Matsi Ave.

The property falls within Zone Eβ3, with a building coefficient of 160%, coverage of 50%, and permission for 6 floors (24m) of construction.

The asking price for the specific asset is negotiable.

52 parking spaces
Year Built: 2002
Total floors: 6
82% Share Title Deed of the land available for transfer
Title Deed Registration number: 3/566

1st unit
Main area size: 701 sqm
Floor: Basement L1
Parking spaces: 34

2nd unit
Ground Floor
Main area size: 297 sqm
Kitchens: 4
WCs: 4
Parking spaces: 18

3rd unit
Main area size: 205 sqm
Floor: 1st
Kitchens: 2
WCs: 2

4th unit
Main area size: 274 sqm
Floor: 1st
Kitchens: 2
WCs: 6

5th unit
Main area size: 274 sqm
Floor: 2nd
Kitchens: 2
WCs: 6

6th unit
Main area size: 274 sqm
Floor: 3rd
Kitchens: 2
WCs: 6

7th unit
Main area size: 274 sqm
Floor: 4th
Kitchens: 2
WCs: 6

8th unit
Main area size: 201 sqm
Helping area size: 56 sqm
Floor: 5th
Kitchens: 2
Bathrooms: 4
WCs: 4