Nicosia , Kokkinotrimithia
The property is located within the community of Kokkinotrimithia, approximately 3km from the center of the community and 90 meters south of the highway Nicosia – Troodos, 57,5km from Larnaca’s International Airport, 14km from Nicosia’s city centre, 90km from Limassol and Ayia Napa / Protaras.
Total land area 48,221 sq.m – 35,133 freehold land & 13,088 leasehold land. The property is a unique Commercial Buildings Complex of open-air format 11,522m² indoor areas, currently set up as: Retail 9,516m² : q 42 shops (of which 5 are large stores) q 1 large store of 1,400 sq.m Food & Beverages 1,306m² : q 8 F&B places Entertainment: q Fun Park – featuring 700 sq.m of indoor facilities Parking Spaces: q 466 parking spaces available – included is 13,088 sq.m land leased from the government used as parking (annual lease cost €26,000)
Substantial opportunity exists for an experienced operator to reposition and remarket the property and generate significant income. Upside exists from: q Renting vacant space for existing use or many other uses (education, medical, entertainment etc) q Optimizing energy supply and consumption with solar energy, expanding laterally in adjacent available land q Unique location in the center of Cyprus and easy access q Available allowable density to build further c7,000 sq.m
The property with plot number 671 lies within combination of Planning Zones B1 (INDUSTRIAL) at a ratio of 90% with a maximum building ratio of 90%, Γ3 (AGRICULTURAL) at a ratio of 1% with a maximum building ratio of 10%, Z1 (PROTECTION) at a ratio of 9% with a maximum building 6% on 2 floors and maximum height of 8.30m. Within the freehold plot number 671, they have erected all the building facilities of the project.