FOR SALE - €2,660,000 NO VAT - REF. NO. RM16344

The property concerns a two-storey industrial building  located in Panagia quarter, Nicosia Municipality.

The property has a frontage of 148m along Michali Paride Street on its northern boundary. It is located 150m north of John Kennedy Avenue and c. 600m northwest of the SOPAZ roundabout.

The property used to house a printing factory and consists of a ground floor of c. 1,990sqm for use as a production and storage area, and a first floor (680sqm) for use as an office and auxiliary space.

The immediate area of the asset is a fully developed area with numerous industrial buildings and warehouses as well as some factories, showrooms and offices of average to good quality.

The asset benefits from easy access to all the areas of Nicosia via John Kennedy and Andrea Zakou Avenues. The Sopaz industrial area is the closest industrial area to Nicosia city centre.

The area is characterised as Special zone area as per the latest Nicosia Local Plan, allowing for commercial use such as. showrooms, galleries, DIY, hypermarkets, cinemas, student halls etc.

Owning SPV: Riveland Properties Ltd

The property is zoned as ΕΠ6 (special use) with 160% building density, 50% coverage and a maximum of 4 floors.

All urban features must be checked with the proper authorities. The Seller has the right to review the selling prices without any prior notice.