Prime Commercial Development Opportunity in Chryseleousa, Strovolos, Nicosia

Key facts

About this property

This property presents a high-value redevelopment opportunity in the heart of Strovolos Municipality (Chryseleousa Quarter), Nicosia. While the site currently contains an older detached house, the highest and best use of the land lies in its exceptional commercial zoning and strategic location. Key Site Details: • Land Area: 336 sq.m. • Existing Structure: A ground-floor obsolete house of 97 sq.m. Development-Ready Advantage: A demolition permit has already been issued, valid from 16/10/2025 until 16/10/2028. The existing structure is a ground-floor building, therefore, demolition costs are projected to be low allowing for a swift and cost-effective transition to the construction phase. Zoning & Potential (Zone Εβ4): The property falls within the Εβ4 Commercial Zone, offering high density and vertical development flexibility: • Building Coefficient: 140% • Coverage: 50% • Floors: 4 Floors (potential for 5 floors via Planning Incentives) • Height: 17m Ideal Project: A modern mixed-use development consisting of ground-floor shops and 4 whole-floor premium apartments. Strategic Location: Situated in a high-demand administrative hub: • Approximately 60m from Strovolos Town Hall. • Approximately 112m Tax Department. • Approximately 800m of major schools (Pefkios Georgiadis and Agiou Vasiliou). • Immediate access to the commercial center of Nicosia. • Within walking distance to amenities and services. There is a separate title deed for this property. Energy Category: D