Commercial property 1 965 m² in Nicosia, Cyprus

A rare opportunity to acquire a prominent commercial building in the heart of Nicosia, one of the capital's most established business and retail destinations. Its central location, substantial size, and significant redevelopment potential make it an attractive proposition for developers, owner-occupiers, healthcare providers, hospitality operators, and long-term investors. Property Breakdown Ground Floor Five retail shops, each with its own mezzanine Total area: approximately 495 sqm Common areas: approximately 25 sqm First Floor Two office units Total area: 337 sqm Second Floor Two office units Total area: 337 sqm Third Floor Two office units Total area: 337 sqm Basement Parking area Total area: 434 sqm Development Potential The property benefits from additional building rights, allowing for the construction of three extra floors, subject to the necessary approvals. This creates a unique opportunity to increase the building's value through expansion, refurbishment, or redevelopment. Potential future uses include: Boutique hotel Serviced apartments Medical centre or private clinic Corporate offices Mixed commercial and residential development Educational or professional training facility Key Highlights Central Nicosia location Existing retail and office accommodation Basement parking Strong redevelopment and value-add potential Opportunity for additional floors Suitable for a wide range of commercial uses   No individual title deeds have been issued for the separate floors. The building does not currently have final approval ("Τελική Έγκριση"). The original permit was issued for residential use. The upper floors were subsequently developed and configured as office space without submission of revised plans. Current rental income is limited, making the property more suitable for purchasers seeking redevelopment, repositioning, or long-term capital appreciation rather than immediate investment returns.