Building for sale in Makedonitissa, Nicosia

This investment is an opportunity project with lots of potentials and it is located at the best area of Engomi near the University of Nicosia and its for as a whole building of 4 storeys. The building is about 40 years old and the 1st-2nd-3rd floor are covered each of them inside with 186m2 + 30 sq.m. covered verandas. This is an ideal investment opportunity that with the right renovation can be transformed and have many uses with high al yield. It can be transformed either as students campus with Facilities like cafe, communal kitchen, bathrooms, laundry room, library etc, or offices, or large luxury flats. The shop at the ground-floor is covered with 189sq.m. inside +27sq.m. verandas at can be transformed to a modern showroom, or as a students cafe, gym etc, or can be be turned to parking spaces for the apartments above. Because of its spot and location it will have a high demand for Retail business. The building factor in the area allows 3 residential floors (Ka5 100% density) but this building already has 4 floors with one commercial floor included as the building factor at the time was build were diffe back in 80's. The buyer will have to advice an Architect for changes in plans and for the new building license that will be necessary to transform the building. The building will be delivered empty upon transferring of title deeds to the new owner. Please call for more information or to arrange a meeting.