Building for sale in Nicosia Municipality, Nicosia

Location:
This building in need of a renovation is in Phaneromeni, Nicosia - a prime real estate opportunity in the heart of the city. This property spans 296 square meters and boasts a versatile layout that caters to various business needs.

Internal Characteristics:
Ground Floor Highlights:
- Prime Location: This property originally featured five shops (1-5), with two additional shops/store rooms (6 & 7) accessible from Phaneromeni Street.
- Shops 4 & 5 were combined into a spacious floor area of 89 m², with an added mezzanine of 20 m².
- Shops 1 & 2 were also merged, creating a larger commercial space with an adjoining storage area, totaling 95 m².
- Current Layout: The reconfigured ground floor now includes a storage area adjacent to the main entrance of the building.
Additional Features:
- Office Space: The property offers a total office area of 160 m², perfect for businesses seeking a central and accessible location.
- Covered Verandas: Enjoy an additional 26 m² of covered verandas, providing a pleasant outdoor space for employees or customers.
Unfinished Second Floor:
- The second floor of the building remains unfinished, offering a blank canvas for further development.
- Total Covered Area: The second floor spans 180 m², providing ample space for future expansion or customization according to your needs.

Advantages - Special Features:
- Subsidies Available: Potential subsidies are available under certain conditions, offering financial incentives to qualified buyers.
This property in the heart of Nicosia, represents a unique investment opportunity with its strategic location, flexible layout, and potential for further development. Whether you're looking to establish a retail presence, expand office space, or customize the unfinished second floor, this property offers endless possibilities.
Prime Investment Opportunity: Perfect for Student Residences
This building is an excellent investment for student housing, located very close to the prestigious Architectural Institute.
Highlights:
- Prime Location: Just steps from the Architectural Institute, ideal for students.
- High Demand: Steady rental income due to continuous student demand.

-The property benefits from several incentives, with various terms for its conversion into a student residence, namely:

1) 75% of the eligible expenses for each Proposal for converting an existing building,

2) 50% of the eligible expenses for each Proposal for constructing a new building,

3) Minimum investment (eligible expense): €140,000,

4) Maximum grant amount per beneficiary: €2,000,000

Invest now in a prime location with guaranteed returns.
Contact us today to explore this exceptional real estate