NIC/TRY001/PL/NIC

32 Homer Avenue & Costi Palama street, Nicosia.

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Property Details

Price : €3,500,000 Type : Land Plots-Building Sites Status : For Sale Area : 1508 m2 Beds : N/A Baths : N/A VAT: N/A

Property Characteristics

PROPERTY LOCATION

The property is located on the corner of 32 Homer Avenue and Costis Palamas street, in Nicosia Municipality, opposite to Lloyd George square, the Archaeological Museum and the Antiquities Department. It has excellent access to Government departments, the House of Representatives, the Eleftheria square, (which is currently under construction) and the town centre, which is situated less than 300m east of the property. To the north the property enjoys excellent views of the moat and the Venetian walls of the old city. Southwest of the property there is a large public parking space.  

 

 

PROPERTY DESCRIPTION

REFERENCE ΤΟ SURVEY, PLAN AND REGISTRATION

Building site no.901, block25, title deed no.25/3777,Sheet Plan XXI.46.5.III, Homer Avenue  and Costis Palamas street, Trypiotis quarter, Nicosia Municipality, measuring 1508m2 tenure freehold, whole  share.  

SITE PHYSICAL CHARACTERISTICS

The site enjoys a double frontage of 35m on Homer Avenue and 45m on Costis Palamas Street and a maximum depth of 42m. The site has a flat surface and curently  standing is an old two - storey building, built between 1947-1950, of  little or no economic value  and needs  to be demolished.

TOWN PLANNING REGULATIONS

PLANNING ZONES

According to the provisions of the Nicosia City Centre Master Plan, as amended in April  2016, the property falls into the commercial zone EZ - δ   with the following characteristics:

Building Coefficient:       2,00:1

Coνerage ratio:               0,60:1

No.of floors:                    8-10

Permissible uses:            Mixed Uses (Shops, Offices, Residential etc.)

INCENΤIVES GIVEN ΒΥ ΤΗΕ PLANNING AUTHORITIES

Ν.Β 1: In  addition to the above, the plot  benefits  from various incentives as set out in table 14 of  chapter 9.1 of  the Nicosia City Centre Master Plan  April 2016 as well as from the Recovery Incentives granted under the Decision of the Council of Ministers dated 29/7/2015. Under the said provisions the Planning Authority has the discretion to increase the building coefficient  up to a maximum of 4.50:1 provided certain conditions are met.

Ν.Β 2: Any interested party  should contact Nicosia Municipality, which is the appropriate Planning Authority,  for the search  of the full permissible development  potentials of the property.

PERMISSIBLE USES

ln areas falling in the commercial zone EZ - δ, a wide mixture of uses is permissible  such as shops, offices,  multiple screen cinemas, hotels, leisure, entertainment facilities and cultural facilities.

PUBLIC SERVICES

The property lies within the Nicosia Municipal boundaries. All public services i.e.water, electricity and telecommunication services may be made available upon application to the relevant authorities  and payment of the necessary dues.

ASKING SALE PRICE 

€3,500.000

 

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+357 22676423
+357 22673110
info@ampantazis.com
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