Commercial Development for sale in Pallouriotissa, Nicosia

Building with title deed, residential apartments, with built area of 290 sqrm, area 556 sqrm, in the area of Pallouriotissa within Nicosia district. It is within close proximity to: Mc Donalds (Pallouriotissas), Mc Donalds (Pallouriotissas), Panagias Evangelistrias church (Pallouriotissa), Panagias Evangelistrias church (Pallouriotissa), Zorbas bakery (Pallouriotissa) and Zorbas bakery (Pallouriotissa). Main features include: Garden, store room, open plan layout, double glazing, ceramic tiles, modern architecture, strctured cabling. The building uses split-unit aiconditioners in each room. It also has a water heater working with : solar panels, electricity. The Energy Efficiency Class of the building is A. The Building was constructed in 2005 and was renovated in 2011. The building is easy to manage and quiet, since it is small size and is comprised of 4 units. The plot characteristics are: within planning zone Ka 3, has a build coefficient of 140.000% with covered coefficient of 50.00%, maximum building permissible height 17.00 meters, and maximum number of floors 4. Other characteristics of Building: electricity, telephone, water connection, connected to sewage system. Τhe plot area is 556 square meters. After getting relevant permits from the local authorities, you can build an additional building of total area 488 sqrm. Zone: Mainly residential area Walking distance from: bank, pharmacy, hair dresser, beauty salon, corner shop, bakery, park. 5 minutes from: nursery, primary school, secondary school, university, supermarket, childrens play area, gymnastics center, Church. View: mountain, town. Other Features: Spacious, Bright. The type of road leading to the property is tarmac secondary road. There is road frontage of 33 meters. The investment is € 1,500 per covered square meter. If you also take into account that you also get a plot 556 sqrm then you can better understand the value. It appears that there is 63% of build coefficient that has not been utilised. With the right permits, this may represent a possible additional 488 sqrm of extra build opportunity for you. Please ask for more information on this. The property has no VAT tax. This Building has title deed ready. Has distance from main higway 5.5 km. Has distance from from sea or beach of 33 km. Building in a very good location in Pallouriotissa, close to many services and facilities, within walking distance. There are many prospects for development because it has a building factor of 140% on a plot area of 556 square meters, which gives a four-storey building for future development and investment. It consists of . 2 one-bedroom apartments on the ground floor area of 50 square meters each built in 2011. . 1 two-bedroom apartment on the ground floor area of 90 square meters built in 2011. . 1 three bedrooms upper floor residence , area of 100 sq.m. . total rental income of 2300 euros per month which gives an Annual Return 6.3%.