Property 57991 Strovolos, Nicosia / 49276

Location:
• Situated in the highly sought-after Agios Dimitrios of Strovolos, the property enjoys a prime, central position.
• It is located 400m of Limassol Avenue. The area is established, well-connected, and ideal for residential development, with immediate access to schools, services, and commercial amenities.
Asset Characteristics:
• The property is a two-storey mixed-use building on a 614 sq.m. plot, currently generating rental income.
• The ground floor includes a front shop with four rooms and two toilets and a split-level back shop used as an office with an open-plan working area, kitchenette, and toilets.
• The first floor comprises office space with an entrance lobby, open-plan area, conference room, separate offices, kitchen, and toilets. Covered verandas total 8 sq.m., while the total building area is 350 sq.m.
Advantages:
• The property provides immediate rental income while offering excellent potential for future residential redevelopment. Planning parameters allows the development of modern apartments in a location with strong demand. Acquisition is via the Special Purpose Vehicle (SPV), enabling a transaction free of Transfer Fees and VAT.
Special Features:
• Strategically positioned in a prime Strovolos location
• Mixed-use building with shops and office space
• Immediate cash flow from existing tenants
• Strong redevelopment potential for modern residential units
• Convenient SPV structure for tax-efficient acquisition