€1,050,000 $1,096,508
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Pay in USD and save up to $38,378Key features
- Listing ID: 1658331 (1137)
- Plot: 248 sqm
- Listed Status Building
- Historic Location
- Walled City Nicosia
- Office Equipment
- Accessibility
- Security
- Cooling/Heating
- Infrastructure
- Government Funding
Description
Property Overview
We are delighted to present a unique opportunity to acquire a fully renovated, 3-storey listed building located just 50 meters from Ledra Street in the heart of Nicosia’s old town. Formerly home to the Architectural School of Cyprus, this property boasts 650m² of meticulously designed and functional space, spread across the basement, ground floor, 1st, and 2nd floors. Originally renovated in 2014, the building is perfectly suited for office use, a boutique hotel, or student accommodation.
Key Features
📏 Total Area: 650 m²
🏛 Historic Location: Located in Nempethane area, near Ledra Street and a multistorey public parking lot
🛠 Fully Renovated in 2014
♿ Accessibility: Includes disabled ramps and a lift for easy access to all floors
🚨 Security: Equipped with an advanced alarm system and structured cabling in all rooms
🔥 Cooling/Heating: VRV air conditioning system for hot/cold with zone-controlled settings
🔌 Infrastructure: Server room, telephone/internet system, triple-phase electricity, and water pressure system
📑 Eligible for Government Funding: The building qualifies for 70% funding for further renovations as a listed property
Building Layout
Ground Floor:
o Large entrance area with a stone arch and corridor (Iliakos)
o 4 spacious rooms, each equipped with structured cabling and VRV system
o Access via a staircase and lift to upper floors
1st Floor:
o Main corridor with 5 separate rooms, all with structured cabling and VRV air-conditioning
o 2 WC’s and kitchenette
2nd Floor:
o Open-plan workspace with a small kitchenette
o Equipped with structured cabling, ideal for collaborative workspaces
o 2 WC’s available on the floor
Basement:
o Server room with fully installed telephone/internet system
o Large storage room, smaller storage room, and a WC for disabled
Investment Potential
This property is a prime investment opportunity due to its flexible layout and prestigious location. The building is ready to be used as-is for office space, but it also holds potential for conversion into student accommodation (taking advantage of 70% funding) or a boutique hotel due to its proximity to Ledra Street and convenient access to public parking.
(No VAT)
Location Highlights
• 50m from Ledra Street, the bustling heart of Nicosia’s shopping and dining district
• Close to public parking and well-connected to city amenities
• Excellent visibility and accessibility in Nicosia’s old town
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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