IMPORTANT NOTICE
This is a direct sale of a mortgaged property, in accordance with article 44H (3) of the Immovable Property (Transfer and Mortgage) Law of 1965, as amended from time to time.

Please note that:
(a) only offers that exceed the reserve price shall be reviewed; and
(b) the mortgagee shall not pay any real estate agent’s fees. If a prospective purchaser appoints a real estate agent, it is their obligation to pay the real estate agent’s fee.

Available for sale is the 1/3 share of a commercial plot , which corresponds to an area of approximately 377sq.m, in a unique location, in Tripiotis Quarter, in Nicosia District. It is adjacent to Stassinos Avenue, approximately 430 meters northwest of the intersection of Archbishop Makarios III, Digeni Akrita and Spyros Kyprianou Avenues (traffic lights of Lycabettus Police Station). The area is characterized by its plethora of services and facilities.

It has a rectangular shape and an even surface. The plot has corner location and abuts onto registered road along its northern and western boundary with total road frontage of 62 meters.

Given the lack of vacant plots in the area, it is an attractive investment opportunity.

The property lies within the ΠΕΖ planning zone (Commercial Development City Centre Zone), with Building Density of 250%.

The property has the potential for further commercial and residential development.

More importantly, it can also benefit from numerous planning incentives such as a substantial increase in the allowable building density, as it is within the area covered by the "Nicosia City Centre Local Plan".

Within the plot there is a wo-story building with no economic value.

THE CLOSING TIME FOR TENDER SUBMISSION IS 10:00 AM EVERY TUESDAY,
UNLESS OTHERWISE SPECIFIED

Tenders submitted for an Amount below the Reserve Price shall be rejected.

The Tenderer is exclusively responsible for conducting an inspection of the Property and to take all actions necessary to verify and / or be satisfied on the accuracy of the details of the Property (including planning particulars, boundaries a.o), and in addition to ascertain whether the sale of the Property is subject to VAT and the exact amount payable. In case of disagreement, it is the sole responsibility of the Tenderer to provide relevant evidence to satisfy Altamira Real Estate.

The Terms and Conditions found on the Tender form must be carefully considered prior to submitting an Offer. 

Any photographs, markings, outlines, or other design on the photographs are indicative and for illustration purposes only.

All planning particulars or other features of the property must be checked with the relevant authorities. Altamira Asset Management Cyprus Ltd is not bound to accept the highest or any other offer submitted. 

The above price may be modified without any prior notice.

All information received from Altamira Asset Management Cyprus Ltd (through the website and / or its operators and / or otherwise) is indicative and no guarantee is given for its completeness and / or validity.

District: Nicosia

Municipality: Nicosia Municipality

Quarter: Tripiotis