4,893 SQM Residential Land for sale in Nicosia Municipality, Nicosia

Reference ID: details: €25,500,000The plot is situated within the administrative boundaries of Nicosia municipality, at Trypiotis Quarter within the Central Business District of the town and it is located at about 150 m south west of the new under construction Eleftherias Square and at about 50 m south of the cross road between Archbishop Makarios III, Evagoras and Anastasios Leventis Avenues.The immediate area is primarily for office uses on the upper floors and commercial uses on the ground floor along the main arterial routes, i.e.Makarios IIIIIIIII Avenue and Evagoras Avenues,which are considered two of the most commercially active streets of the capital.Furthermore,it is characterizedby leisure entertainment spots such as restaurants, coffee shops,shops ,nigh clubs and very recently residential units to a certain extent and clustering of public and private services and departments (Ministries,banks, law firms, etc).The plot abuts on three public roads . It has a rather regular shape of letter  “L” type and a flat and even surface.It must be highlighted that,the property is located opposite a large outdoor parking area,which covers the needs for car parking of the immediate area to a great extent.The plot sizei s 4893 sqm and has building density2.5:1 and coverage 0.7:1.As mentioned before, according ingto the provisions of the Revised Local Plan for the TownCentre, the property under study can get benefited with an  increase building density up to 5,55 :1(2.50 +2,50 +0,25 +0,30 ),due to its large extent and the unlimited storeys/height.The plot has great advantages as the large extent, its location in the Central Business District and very close to Eleftherias Square which is under reconstruction and the large frontage along three public roads ,its shape and even and flat surface.Moreover, it could secure an extra ordinary high building density,which is the achievable building density that could be permitted, as per the provisions of the local plan of Nicosia-CBD (Central Business District).