FOR SALE - €10,500,000 NO VAT - REF. NO. RM28509

This asset is the “Ledra Arcade” commercial center in Ledras Street, 250m north of Eleftherias Square, in within the walls Nicosia.

The asset comprises of:
-A common area of c. 450sqm
-Shop 1 of 185sqm and a 63sqm mezzanine
-Shop 2 of 177sqm and a 23sqm mezzanine
-Shop 3 of 312sqm and a 145sqm mezzanine
-Shop 4 of 115sqm
-Shop 5 of 75sqm and a 44sqm mezzanine
-The three level underground parking with 154 parking spaces of c. 4,500sqm

The asset also benefits from an unused building density of c. 2.500sqm.

The immediate area of the property comprises of listed buildings of residential and commercial use and is considered to be the traditional commercial centre of Nicosia. Ledras Street is one of the main commercial streets of Nicosia with numerous restaurants and shops, which attract a high amount of traffic from both tourists and locals.

The asset is partially occupied.

The asset falls within two planning zones:

-ΠΕΖ with building density coefficient of 180%, coverage coefficient 70%, in 3 floors and a maximum height of 11,5m.

-ΕΖ with building density coefficient of 160%, coverage coefficient 70%, in 3 floors and a maximum height of 11,5m.

Owner: Molemo Properties Ltd

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