Mixed-Use Building for Sale in Walled City, Nicosia

Within the Walls of Nicosia, this mixed-use property with Approved Building Permit offers a unique investment opportunity in a city undergoing significant transformation. Property Highlights: Fully vacant and immediately accessible Owned by a Limited Liability Company (Ltd) holding full rights Building Type: Mixed-use (Shops & Residential) Total Plot Size: 279 sqm Total Covered Area: 694 sqm Total Uncovered Verandas: 46 sqm Walking Passage: 60 sqm 📜 Zone: Ka-a Density Factor: 140% Coverage Factor: 70% Building Height: 8 m Floors: 2 The asset currently consists of a ground level configured with 6 retail shop units and two additional floors above, each hosting 3 apartments, with every apartment featuring 3 bedrooms and uncovered verandas. Renovations Year 2021: Building infrastructure upgrades, including plumbing, electrical systems, and roof maintenance Development Potential: ✅ Remodelling Plan: Convert 6 apartments to 15 studios (33 sqm each) ✅ Approved Building Permit ✅ Planned Use: Business travellers (Airbnb) & Student Housing ✅ Approved Licenses: Renovation, Business Operation (Hotel) The Walled City is currently experiencing a resurgence, with over €28.8 million allocated for revitalization projects aimed at attracting young residents, fostering economic activity, and enhancing the urban landscape. Key developments include: • Educational Expansion • Cultural and Creative Hubs • Recognition as a City of the Future