A rare opportunity to acquire a prominent commercial building in the heart of Nicosia, one of the capital’s most established business and retail destinations.
Its central location, substantial size, and significant redevelopment potential make it an attractive proposition for developers, owner-occupiers, healthcare providers, hospitality operators, and long-term investors.
Property Breakdown
Ground Floor
Five retail shops, each with its own mezzanine
Total area: approximately 495 sqm
Common areas: approximately 25 sqm
First Floor
Two office units
Total area: 337 sqm
Second Floor
Two office units
Total area: 337 sqm
Third Floor
Two office units
Total area: 337 sqm
Basement
Parking area
Total area: 434 sqm
Development Potential
The property benefits from additional building rights, allowing for the construction of three extra floors, subject to the necessary approvals. This creates a unique opportunity to increase the building’s value through expansion, refurbishment, or redevelopment.
Potential future uses include:
Boutique hotel
Serviced apartments
Medical centre or private clinic
Corporate offices
Mixed commercial and residential development
Educational or professional training facility
Key Highlights
Central Nicosia location
Existing retail and office accommodation
Basement parking
Strong redevelopment and value-add potential
Opportunity for additional floors
Suitable for a wide range of commercial uses
No individual title deeds have been issued for the separate floors.
The building does not currently have final approval (“Τελική Έγκριση”).
The original permit was issued for residential use. The upper floors were subsequently developed and configured as office space without submission of revised plans.
Current rental income is limited, making the property more suitable for purchasers seeking redevelopment, repositioning, or long-term capital appreciation rather than immediate investment returns.
