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Building, For Sale, Nicosia, Walled Old City
Walled Old City, Cyprus
REF: 771505
€3,800,000
Description
For Sale Mixed Use Building in Nicosia 6 Floors Mixed Use Building in Nicosia for Sale*Pictures are available to be sent to any interested buyers. Location €¢ On one of the most commercial streets of the capital €¢ The wider area of the property is mainly developed with mixed use buildings consisting of shops, flats and offices. €¢ Building Zone ΠΕΖ Core Commercial Zone 180% and Intermediate Commercial Zone External Features €¢ Excellent building condition since the building was ed and now the owner is continuing to maintain it properly €¢ Access to the building from two diffe streets, almost 360 views of Nicosia Internal Characteristics €¢ 2,105sm internal area plus the 140sm basement. Basement, Ground floor plus 5 floors. Architect Plans provided in the online pictures €¢ Modern Elevator, good quality flooring, false ceiling, AC€™s, fire safety, fire exits, structured cabling Advantages Special Features €¢ Attached to a parking with 155 parking spaces €¢ Valuated at ‚4,475,000 in 2022 and the s price is ‚3,800,000 €¢ Project eligible for ‚2,000,000 Grand for Student Accommodation Scheme. Existing plans for 43 rooms €¢ The government grant is given to convert existing buildings to Student Accommodation After 5 years of operation, conversion to any other use is possible €¢ Architect€™s estimation to convert to Student Accommodation is at ‚2,700,000 (+vat) so the project can receive ‚2,000,000 grant. €¢ Owner already applied for license and is waiting for approval €¢ NO transfer fees since it is the only property owned by a company €¢ Suitable for Student Accommodation, Hotel, Offices, or Conversion to self-contained flats and Rental Income
For Sale Mixed Use Building in Nicosia 6 Floors Mixed Use Building in Nicosia for Sale*Pictures are available to be sent to any interested buyers. Location €¢ On one of the most commercial streets of the capital €¢ The wider area of the property is mainly developed with mixed use buildings consisting of shops, flats and offices. €¢ Building Zone ΠΕΖ Core Commercial Zone 180% and Intermediate Commercial Zone External Features €¢ Excellent building condition since the building was ed and now the owner is continuing to maintain it properly €¢ Access to the building from two diffe streets, almost 360 views of Nicosia Internal Characteristics €¢ 2,105sm internal area plus the 140sm basement. Basement, Ground floor plus 5 floors. Architect Plans provided in the online pictures €¢ Modern Elevator, good quality flooring, false ceiling, AC€™s, fire safety, fire exits, structured cabling Advantages Special Features €¢ Attached to a parking with 155 parking spaces €¢ Valuated at ‚4,475,000 in 2022 and the s price is ‚3,800,000 €¢ Project eligible for ‚2,000,000 Grand for Student Accommodation Scheme. Existing plans for 43 rooms €¢ The government grant is given to convert existing buildings to Student Accommodation After 5 years of operation, conversion to any other use is possible €¢ Architect€™s estimation to convert to Student Accommodation is at ‚2,700,000 (+vat) so the project can receive ‚2,000,000 grant. €¢ Owner already applied for license and is waiting for approval €¢ NO transfer fees since it is the only property owned by a company €¢ Suitable for Student Accommodation, Hotel, Offices, or Conversion to self-contained flats and Rental Income
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Currency Exchange
Walled Old City, Cyprus
Interested in this property? Don't lose out to currency fluctuations changing the price you pay...
Many overseas buyers in Cyprus do not realise they can lose thousands of pounds through adverse currency exchange rate movements.
The property buying process in Cyprus takes time; it could be up to six months between seeing the property of your dreams and actually taking ownership. So how much would this €3,800,000 property cost you?
| Property Price € | Minimum cost in the last six months | Maximum cost in the last six months | Fluctuating exchange rates over the last six months could have increased the cost of this property by |
|---|---|---|---|
| €3,800,000 | £3,130,820 | £3,265,910 | £135,090 |
| Property Price € | €3,800,000 |
| Minimum cost in the last six months | £3,130,820 |
| Maximum cost in the last six months | £3,265,910 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £135,090 |
Walled Old City, Cyprus
Interested in this property? Don't lose out to currency fluctuations changing the price you pay...
Many overseas buyers in Cyprus do not realise they can lose thousands of pounds through adverse currency exchange rate movements.
The property buying process in Cyprus takes time; it could be up to six months between seeing the property of your dreams and actually taking ownership. So how much would this €3,800,000 property cost you?
| Property Price € | Minimum cost in the last six months | Maximum cost in the last six months | Fluctuating exchange rates over the last six months could have increased the cost of this property by |
|---|---|---|---|
| €3,800,000 | £3,130,820 | £3,265,910 | £135,090 |
| Property Price € | €3,800,000 |
| Minimum cost in the last six months | £3,130,820 |
| Maximum cost in the last six months | £3,265,910 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £135,090 |
The exchange rate on the day you make an offer on your property in Cyprus will not be the same as the rate you pay when you complete on your purchase, as currency markets move constantly. Any large rate movements may take it beyond your price range as the chart above illustrates the fluctuation and how much extra your property could have cost you.
The best way to avoid this significant risk is to plan your budget and currency strategy with an experienced currency specialist. They have been known to save you up to 4% compared to many high street banks, £4,000 for every £100,000, which soon adds up. They will also keep you up to date on market movements, help you set a rate in advance with a product called a Forward Contract - so you know exactly what you will pay for your property in sterling.
This is why we recommend Smart Currency Exchange Ltd. If exchange rate movements continue to be as unpredictable and as significant as they have been in the past then by not using Smart Currency Exchange Ltd your property could cost you £135,090 more.
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