Commercial Development Opportunity - Chryseleousa, Strovolos, Nicosia

Description

This property presents a high-value redevelopment opportunity in the heart of Strovolos Municipality (Chryseleousa Quarter), Nicosia. While the plot currently includes an older detached house, the true value lies in its strong commercial zoning and strategic central location, making it ideal for a modern development project.

📐 Key Site Details
• Land Area: 336 sq.m.
• Existing Structure: Ground-floor house of 97 sq.m.

🚧 Development-Ready Advantage
A demolition permit has already been issued, valid from 16/10/2025 until 16/10/2028.
Since the existing building is only single-storey, demolition costs are expected to be low, allowing for a fast and cost-efficient transition to construction.

🏙️ Planning Zone – Εβ4 (Commercial Zone)
The property benefits from high development potential, offering flexibility for a multi-storey project:

• 📊 Building Density: 140%
• 🏢 Coverage: 50%
• 🏗️ Floors: 4 floors (potential for 5 floors through planning incentives)
• 📏 Maximum Height: 17m

💡 Ideal Development Concept
A modern mixed-use building featuring:
• 🛍️ Ground-floor retail shops
• 🏢 4 whole-floor luxury apartments above

📍 Strategic Location
Situated in one of Nicosia’s key administrative and commercial areas:

• 🏛️ 60m from Strovolos Town Hall
• 💼 112m from the Tax Department
• 🎓 Approx. 800m from major schools (Pefkios Georgiadis & Agiou Vasiliou)
• 🚗 Easy access to Nicosia’s commercial centre
• 🛒 Within walking distance to shops, services, and amenities

💼 Additional Information
• 📄 Separate Title Deed available
• ⚡ Energy Performance Certificate: Pending

✨ An excellent investment opportunity for developers seeking a high-density residential or mixed-use project in a prime Strovolos location.
Reference: SK20419AL