Ref. No. 21185 Building

€10,500,000 No VAT
Nicosia Town Nicosia
Building Commercial
6089m² Covered
Sales Agent Gareth Ronweil

Property Description

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

The property 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 property 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 property is partially occupied.

The property 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.

Property Features

No VAT
Parking - 1 Covered

Transfer Fees

€437,508
BUYING AS AN INDIVIDUAL
€416,600 Transfer fees + €20,908 Stamp Duty
€434,108
BUYING ON JOINT NAMES
€413,200 Transfer fees + €20,908 Stamp Duty
The above calculations are an indication of your tax liability and legal fees when buying a property in Cyprus. The Cyprus Land Registry calculations may differ since are based on thier own property valuation price.
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