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Altamira Real Estate: Investment opportunity with a six-storey building in the heart of Makarios in Nicosia

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Altamira Real Estate: Επενδυτικor &epsilon ;υκαιρλα με εξαωροφο κτorριο στην &kappa ;αρδια της Μακαρλου στη Λευκωσλα

One of a kind property, with numerous parking spaces in the commercial center of the capital

A highly attractive investment opportunity on the renewed Makarios Avenue, presents Altamira Real Estate.

This is a six-storey iconic building, with numerous parking spaces and a total area of ​​2,600 sq.m., which is located in the heart of the most central avenue of the capital and is for sale at the price of €7,500,000. The size, combined with the upgraded Makariou Avenue, are indisputable advantages of the property, which could be developed in various ways. For example, it can be transformed into an office building, a luxury boutique hotel, or even luxury penthouses with a restaurant and bar on the ground floor.

Altamira Real Estate: Επενδυτικor &epsilon ;υκαιρλα με εξαωροφο κτorριο στην &kappa ;αρδια της Μακαρλου στη Λευκωσλα

The property adjoins Makariou Avenue with a frontage of about 21 meters and Zinas Kanther Street with a frontage of 23 meters, while it is very close to the busy Stasikratous shopping street, which has recently been upgraded, with the creation of modern sidewalks as well as new commercial developments and services .

This is an excellent opportunity with many advantages, which can bring the investor returns in excess of 7%. Over time, city centers, and especially the capital, are a safe investment with low risk. In addition to the location, the building is exempt from VAT, while it is considered unique since there is a lack of similar properties in the area.

Six floors with shops and offices, numerous parking spaces

The property that Altamira Real Estate has for sale consists of an empty building with 14 shops on the ground floor and 12 offices on the upper floors. In addition, it has a large paved commercial plot of 410 sq.m., which is used as a parking space for at least 35 vehicles. Specifically, the property has shops, with an area of ​​392 sq.m. and mezzanine of 143 sq.m. on the ground floor, closed office spaces on the six floors, with an area of ​​1,474 sq.m. and terraces of 198 sq.m. At the same time, it is served by a central and two auxiliary elevators, as well as a staircase.

Altamira Real Estate: Επενδυτικor &epsilon ;υκαιρλα με εξαωροφο κτorριο στην &kappa ;αρδια της Μακαρλου στη Λευκωσλα

It is worth noting that the piece of land on which the building has been erected has a maximum building factor of 250%, while it falls within the Nicosia Center Area Plan, which allows it to benefit from a multitude of urban planning incentives. Taking incentives into account, the building factor can reach up to 375% – at no extra cost – which corresponds to a total area of ​​up to 5,895 sq.m.

Interested buyers can submit the offer them through the appropriate process of Altamira Real Estate, with a lower price than the indicative price indicated on the website.

Source: www.philenews.com

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