Ressidential Plot For Sale in Nicosia - Panayia Area, Cyprus 690m²

Residential Building for Sale in Panayia, NicosiaDescription

A residential building for sale in the Panayia area of Nicosia, located in a quiet neighborhood close to the city center. The property offers excellent investment potential, with options for renovation, legalization, or redevelopment into a modern residential project.

The building requires full internal and external renovation and offers various development possibilities, making it an attractive opportunity for investors and developers.

Location

The property is situated in the Panayia area of Nicosia, in a peaceful residential neighborhood with convenient access to the city center and nearby amenities.

The Property

• Total building area: approximately 780 m²
• Three floors: ground floor, first floor, and second floor
• Four existing residential units based on the latest approved building permit
• Four parking spaces
• Garden and swimming pool at the rear of the building
• Building survey completed and application submitted to the Planning Department for legalization
• Potential for redevelopment with an allowed building area of up to approximately 1,063 m², including applicable incentives
• Potential to develop approximately 16 residential units, depending on the final design and unit mix
• Full internal and external renovation required

The property offers several development options, including renovating the existing building or creating a new residential development, subject to the necessary planning and building approvals.

The building is owned by a company, and the sale can include the company together with the property.

Contact Us

For more information about this investment opportunity or to arrange a viewing, please contact us.