1,829 SQM Residential Plot for sale in Nicosia Walled Old City, Nicosia

A parcel of land with a total area of 1.829 sqm, located in Ayios Antonios quarter in Nicosia.
The property, as a plot, has a rectangular shape with an extensive frontage to the street of 67 metres. Its surface is flat and even.
It is noted that currently, on the site, there is a building with no economic value that will be demolished.
The property falls within the commercial pplanning zone EA3 with a maximum building density coefficient of 200% and a land coverage coefficient of 40% over 10 floors and 38 metres height.
The immediate area of the property consists of a mixture of residential and commercial developments such as buildings consisting of shops, restaurants and showrooms on the ground floor and offices or apartments on the upper floors. The property enjoys easy access to the wider city of Nicosia and the surrounding areas.
Given its large area, excellent location and easy access, is suitable for commercial /residential development, benefiting from high volumes of traffic. Another advantage of the asset, as a building plot, may benefit from increased building density by taking advantage of various government incentives.