Investment for Sale in Paphos

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€6,189,000 EUR

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Ref 2273312 | Paphos, Paphos | Property

Currency services provided by Excel Currencies 6,189,000 EUR  |  Approx.£5,329,348 GBP  |  Approx. US$6,623,468 USD
  • Type: Investment
  • Location: Paphos
  • Province: Paphos
  • Country: Cyprus
  • Bedrooms: 0
  • Bathrooms: 0

This two storey commercial building with a basement has been erected on three adjacent plots and has an excellent location on Apostolou Pavlou Avenue in Paphos 450m north of Spyrou Kyprianou Avenue, near to the King’s Avenue Mall.The building is vacant and comprises a basement of 1.100 sqm which was used as storage, an open-plan ground floor of 3.000 sqm for used as retail space and an upper floor of 70 sqm which was used as an office space.The building offers 145 parking spaces.Due to its location, the asset benefits of good accessibility to Paphos city centre and to Poseidon’s Avenue (coastal road). Along Apostolou Pavlou Avenue, a mix of commercial and residential developments can be observed including showrooms, shops, offices, apartments and houses.The total land area of the property is 7.430 sqm with a total built area of 4.200 sqm.Some of the building coefficient is unused and the structure was designed to allow for one more storey above (approximately 4.500 sqm).The property falls within the following two Planning Zones:

Commercial zone Εβ5 with a maximum building density coefficient of 120% and a land coverage coefficient of 50% over 3 floors and 13,5 meters height.

Residential zone Κα5 with a maximum building density coefficient of 100% and a land coverage coefficient of 50% over 3 floors and 13,5 meters height.

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