February 17 2022
One of the most well-known commercial buildings in Nicosia, is exclusively for sale with Reinvest Real Estate. Located on Makarios avenue, the most central and commercial area of the capital, the City Plaza can be used as a shopping centre with cafeterias and restaurants or as a business office building. Alternatively, it can be used as a combination of shops and offices. With the revamp of the former high-street shopping centre, the City Plaza can now offer very high yields as an appealing investment opportunity.
City Plaza is a 4-floor commercial building in excellent condition with a total of 74 shops and a covered area of 4,669m². The top floor is a united lot without any partitions offering freedom of space and individual utilization with an approximate covered area of 1,232m². The rest 3 floors of the building, comprise 19 shops each, with an internal area for each level ranging from 778m² to 943m², which can be also unified as per the top floor to create a bigger office space with the area of 1, 232m².
The subterranean basement can accommodate approximately 75 vehicles as well as storage facilities. The parking lot has access to the main lifts that connect it to the whole building.
City Plaza is part of the ''Nicosia Local Plan'' and according to the incentives offered, the building coefficient could increase from the current 250% to 425%, as outlined in the “Nicosia Centre Area Plan 2016” and the “Incentive Plan 2016-2019 (for parking spaces for public use)”.
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