Description
Key Features
- Property: Open-air commercial building complex, steel frame construction
- Indoor area: 11,522 m² (retail 9,516 m², food and beverage 1,306 m², fun park with 700 m² of indoor facilities)
- Units: 42 shops (5 of them large stores), 1 large store of 1,400 m², 8 food and beverage units
- Land: 48,221 m² in total (35,133 m² freehold, 13,088 m² leased from the government)
- Parking: 466 parking spaces
- Planning zones: B1 (industrial), Γ3 (agricultural), Z1 (protection)
- Title deed: Available
- Energy certificate: B
- Price: €10,500,000 (may be subject to VAT)
Description
A commercial building complex for sale in Kokkinotrimithia, Nicosia, priced at €10,500,000.
The open-air complex has 11,522 m² of indoor space, currently set up as 9,516 m² of retail (42 shops, 5 of them large stores, plus 1 large store of 1,400 m²), 1,306 m² of food and beverage across 8 units, and a fun park with 700 m² of indoor facilities. There are 466 parking spaces, which include 13,088 m² of land leased from the government and used as parking, at an annual lease cost of €26,000. All building facilities stand on the freehold plot no. 671. The buildings are steel-framed, with PVC windows and doors, double glazing, laminated parquet floors, an alarm system, CCTV and structured cabling.
There is scope for an experienced operator to reposition the complex and generate significant income: letting vacant space for its current use or for others such as education, medical or entertainment; optimising energy supply and consumption with solar energy; expanding into adjacent available land; and using approximately 7,000 m² of building density still available.
The plot falls within a combination of planning zones: B1 (industrial) covering 90% of the plot, with a maximum building ratio of 90%; Γ3 (agricultural) covering 1%, with a maximum building ratio of 10%; and Z1 (protection) covering 9%, with a maximum building ratio of 6%, on 2 floors and a maximum height of 8.30m.
The property is about 3km from the centre of Kokkinotrimithia and 90m south of the Nicosia-Troodos highway. It is 14km from Nicosia city centre, 57.5km from Larnaca International Airport, and 90km from Limassol and from Ayia Napa / Protaras.
Quick Answers
- Where is the property? In Kokkinotrimithia, Nicosia, 90m south of the Nicosia-Troodos highway and 14km from Nicosia city centre.
- Does it have a title deed? Yes.
- Is VAT payable? The sale may be subject to VAT.
About Properway
Properway is a licensed real estate agency in Cyprus, offering sales, lettings and property management.
Estate Agent Registration No. 1399 | Licence No. 625/E.
All urban features must be checked with the proper authorities.