For Sale €18,300,000 Building
A two floor commercial building/showroom with a basement, located in Stovolos, Nicosia. It is adjacent to public roads on its western and eastern boundaries, at a short distance north of The Mall of Cyprus and IKEA.
The building comprises of a ground floor with a total area of 5.184 sqm, which consists of the building’s main entrance, reception area, showroom, offices and other auxiliary areas. The first floor with a total area of 4.599 sqm and consists of offices, showrooms, reception area and other auxiliary areas, and the basement with a total area of 2.565 sqm consisting of an open plan storage area and other auxiliary areas.
The property falls within the following two Planning Zones:
Commercial zone ΕΠ5 with a maximum building density coefficient of 180% and a land coverage coefficient of 50%, over 2 floors.
Commercial zone Δα1 with a maximum building density coefficient of 0,5% and a land coverage coefficient of 0,5%, over 1 floor and 5,5 metres height.
The asset is located east of the A1 Nicosia – Limassol motorway, offering great accessibility towards Nicosia city centre and surrounding areas. The immediate area mainly consists of commercial developments, such as The Mall of Cyprus and IKEA, buildings comprising of shops/ restaurants/ showrooms and many other commercial uses.
There is considerable demand for large commercial buildings, taking into consideration that in the wider area there is an increased commercial development.