Multi-Unit Investment Opportunity in Agios Georgios, Latsia, Nicosia
- Cyprus
- House
- Residential
Reserve €360.000
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Property Summary
- Multi-Unit Investment Opportunity in Latsia, Nicosia
- Commercial Zone "Εβ3”
- Building coefficient: 160%
- 6 floors up to 24 meters height
- Total land area in 514 sq.m.
- The Ground Floor house consists of 234 sq.m. internal area.
- The 4-bed Upper Floor house consists of 211 sq.m. internal area.
- Inexhaustible Building Density
- Vacant possession.
- The sale of the property, which comprises of a 257/557 share of a field/plot, is subject to the right of first refusal granted to co-owners under section 25 of the Immovable Property (Tenure, Registration, and Valuation) Law, Cap. 224”.
- This property has a minimum conditional price subject to confirmation (STC). The highest offer is subject to approval by the vendor, who has a maximum of 2 working days to respond. In the meantime and in case of approval by the vendor the highest offer placed will be mutually binding. You will find more information in the Terms and Conditions.
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Property description
- Ground floor and Upper Floor built in 1992
- The property has a distribution agreement referred to the 46% share of land, 514 sq. m. out of 1,114 sq.m. in total.
- The process for the issuance of separate title deeds (ground floor and upper floor) is in progress
- The northern part of the ground floor house consists of a spacious open plan living, dinning and kitchen area, a bathroom with shower and toilet and a spacious one bedroom. The southern part was previously a nursery school consisting of a separate kitchenette and five rooms.
- The property could be brought back to its initial residential use, as a single unit or two units, ensuring the relevant permits are acquired.
- The Ground floor house is extending to approx. 234 sq.m. of internal area and 32 sq.m. of covered verandas.
- The Upper floor house consists of a spacious kitchen with a laundry room/kitchenette and sitting area, a big living room with dining area, four bedrooms out of which the master bedroom is ensuite, a main bathroom with a bathtub and a guest toilet.
- Apartment on the first floor extending to approx. 211 sq.m. of internal area and 58 sq.m. of covered verandas.
Location
- The property is located in Agios Georgios parish, in Latsia Municipality, Nicosia, under Land Reg. No. 2/3032.
- It is adjacent to Ikarou street, approx. 80 m. east of Giannou Kranidioti Avenue and 2 km eastwest GSP stadium in a close proximity to the highway.
- The immediate area of the property is mainly characterized by residential units such as houses as well as residential land.
Tenancy
- Vacant Possession
Zoning
- The property falls within the "Εβ3” Commercial Zone, which allows 160% building coefficient, 50% building coverage, 6 floors and up to 24 meters height.
- The property falls within the Commercial zone 'Εβ3' a proportion of 93%, with building density coefficient 160%, building coverage coefficient 50%, 6 floors and up to 24 meters height as well as within the Commercial zone 'Εβ5' at a percentage of 4%, with building coefficient 100%, building coverage coefficient 50%, 3 floors and up to 13,50 meters height and the residential zone Ka5 at 3%, with building density coefficient 100%, coverage coefficient 50%, 3 floors and up to 13,50 meters height
Accommodation
The property was not internally inspected or measured by BidX1. The information was provided by the Vendor. We are informed that the property provides:
- 2 x three-bedroom apartments, one Ground Floor and one Upper floor.
- Interested parties are advised to undertake their own inquiries to confirm property / building measurements.
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*Terms & Conditions
Islanders Estate Agencies Ltd (as a licenced Estate Agent), T/A BidX1 Cyprus Sales, Registration No. 1251, Licence No. 625/E. No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the vendor in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the vendor. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the vendor. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor.
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