Industrial buy in Nicosia Lefkosia

Development opportunity in a vacant property on a well proportioned site extending to about 10.638 sq.m. (105m wide x 110m depth). The asset is surrounded by mainly large commercial and industrial units and is within close proximity to the Mall of Cyprus, the Nicosia general hospital and the main motorway. The industrial building within the land is two-storey high and is situated on the northern boundary of the parcel. The basement of approximately 550 sq.m. consists of a reception area, 2 storage rooms, a dining room and toilets. The ground floor of approximately 1,700 sq.m. consists of 2 office spaces, a small kitchen, storage spaces, a freezer room, an open-plan space and an electrical substation. The 1st floor of approximately 295 sq.m. consists of 3 office spaces, toilets, a room and covered verandas. The property is subject to a compulsory purchase order where the file is in the 'Initial Stage' for approximately 2.318 sq.m., resulting in a total net area of approximately 7.360 sq.m. These deductions refer to about 800 sq.m. for public green space, 160 sq.m. for public pedestrian pathway and an additional area for the construction of a secondary road which will serve the development.