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For Investment Suitable for Investment in Nicosia, Engomi
The property is a commercial plot with a total area of 3,280sqm, in Egkomi, Nicosia. It is adjacent to Achaion Street on its northern boundary, to Agamemnon's Street on its western and to Archimidous Street on its southern. It is located at a distance of 550m southeast of the Griva Digeni Avenue and 28th October Street junction, as well as 50m west of Hilton Park hotel.
The property as a plot has a corner location and a rectangular shape with a flat and even surface and a total frontage of 172m.
The immediate area is well developed and is mainly characterized by building blocks accommodating large organizations, like the Cyprus football association, Nicosia Land Registry and Engomi Town Hall. The wider area is characterized as one of the most attractive areas of Nicosia and has experienced increased levels of growth over the past few years, mainly driven from commercial use developments like universities, supermarkets, cafes, and hotels.
The property falls within the following two Planning Zones:
• Commercial zone Εβ3 (1509sqm) with a maximum building density coefficient of 160% and a land coverage coefficient of 50% over 6 floors and 24/20.4 meters height
• Residential zone Κα6 (1771sqm) with a maximum building density coefficient of 90% and a land coverage coefficient of 50% over 2 floors and 10/8.30 meters height.