🏢 Commercial Plot with Existing Residence for Sale in Panagia, Nicosia

Prime Development Opportunity on Larnakos Avenue | Nicosia City Centre

An exceptional commercial development opportunity in a highly strategic location in Panagia, Nicosia, along Larnakos Avenue, offering excellent visibility, accessibility, and significant redevelopment potential.

The property comprises a 524 sq.m. plot within the Εβ2 Commercial & Other Central Functions Zone, with favourable planning parameters allowing for a substantial future development.

The plot currently includes an older residential building constructed in 1955, which is in moderate condition and can potentially be demolished to facilitate a new development, subject to the necessary approvals.

📍 Property Details

• Plot Area: 524 sq.m.
• Planning Zone: Εβ2 – Commercial & Other Central Functions
• Building Density: 180%
• Coverage: 50%
• Maximum Floors: 8
• Maximum Height: 31 m
• Planning Scheme: Nicosia Local Plan

🏚️ Existing Building

• Year Built: 1955
• Category: “C”
• Condition: Moderate
• Covered Area: 135 sq.m.
• Parking: 1 attached parking space
• Floor: Ground floor
• Number of Floors: 1
• Current Use: Existing residence
• Potential: Existing structure could be demolished for redevelopment, subject to planning and building approvals.

💼 Development Potential

The property’s Εβ2 zoning, combined with a 180% building density, 50% coverage, and allowance for up to 8 floors / 31 metres, creates an attractive proposition for developers and investors seeking a centrally located commercial development site.

The strategic position on Larnakos Avenue provides excellent exposure and accessibility, making the property suitable for consideration for a range of future commercial, office, mixed-use, or other permitted developments, subject to the applicable planning regulations and approvals.

⭐ Key Investment Advantages

✔️ Prime city-centre location

✔️ Frontage/access to Larnakos Avenue

✔️ Commercial Εβ2 zoning

✔️ High 180% building density

✔️ Up to 8 floors

✔️ Maximum height of 31m

✔️ Existing building with potential for redevelopment

✔️ Excellent opportunity for developers and investors

📞 Contact us today for further information, planning details, or to arrange a viewing of this development opportunity.