Full Description
Large Commercial Land for Sale in Pallouriotissa, Nicosia. Close to all amenities including schools, supermarket, banks, shops, restaurants, coffee shops etc. Easy access to Larnaca, Nicosia motorway.
The plot has a regular shape and benefiting from a total road frontage of approximately 24 metres. An existing single-storey building is located within the plot; however, it is considered to have no economic value.
It is noted that the property falls within Commercial Planning Zone EZ-a, which permits the development of a building of up to eight 8 floors, with a total buildable area of approximately 1,386 sq.m. Furthermore, the property may benefit from various planning incentives, including the possibility of an increased building density, as it is located within the Nicosia City Centre Area Plan.
It is also noted that preliminary architectural designs have been prepared for the development of a building complex comprising two retail units with mezzanines and eight residential apartments.
The property is exempt from the 50% reduction of the Immovable Property Transfer Fees in all cases where fees are imposed or collected pursuant to the Department of Lands and Surveys (Fees and Rights) Law, Cap. 219.
Title Deed is available
Read more