€3,800,000 $4,011,134
Fox Smart Estate Agency Nicosia
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Pay in USD and save up to $140,390Key features
- Listing ID: 1189761 (25805)
- Plot: 537 sqm
Description
For Sale Mixed Use Building in Nicosia
6 Floors Mixed Use Building in Nicosia for Sale*Pictures are available to be sent to any interested buyers.
Location
• On one of the most commercial streets of the capital
• The wider area of the property is mainly developed with mixed use buildings consisting of shops, flats and offices.
• Building Zone ΠΕΖ Core Commercial Zone 180% and Intermediate Commercial Zone
External Features
• Excellent building condition since the building was ed and now the owner is continuing to maintain it properly
• Access to the building from two diffe streets, almost 360 views of Nicosia
Internal Characteristics
• 2,105sm internal area plus the 140sm basement. Basement, Ground floor plus 5 floors. Architect Plans provided in the online pictures
• Modern Elevator, good quality flooring, false ceiling, AC’s, fire safety, fire exits, structured cabling
Advantages Special Features
• Attached to a parking with 155 parking spaces
• Valuated at €4,475,000 in 2022 and the s price is €3,800,000
• Project eligible for €2,000,000 Grand for Student Accommodation Scheme. Existing plans for 43 rooms
• The government grant is given to convert existing buildings to Student Accommodation – After 5 years of operation, conversion to any other use is possible
• Architect’s estimation to convert to Student Accommodation is at €2,700,000 (+vat) so the project can receive €2,000,000 grant.
• Owner already applied for license and is waiting for approval
• NO transfer fees since it is the only property owned by a company
• Suitable for Student Accommodation, Hotel, Offices, or Conversion to self-contained flats and Rental Income
Buying expenses
Stamp duties is tax paid by property purchasers to the land registry when the property sales agreement is registered with the land registry. Transfer fees paid by property purchasers to the land registry when the title deed of the property is transferred to their name.
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