Commercial Factory in Panagia, Nicosia

Two-storey industrial building located in Panagia quarter, Nicosia Municipality. The property has a frontage of 148m on a street on its northern boundary. It is located a few meters close to the SOPAZ roundabout. The property used to house a printing factory and consists of a ground floor of c. 1,990sqm for use as a production and storage area, and a first floor (680sqm) for use as an office and auxiliary space. The immediate area of the asset is a fully developed area with numerous industrial buildings and warehouses as well as some factories, showrooms and offices of average to good quality. The asset benefits from easy access to all the areas of Nicosia. The Sopaz industrial area is the closest industrial area to Nicosia city centre. The area is characterised as Special zone area as per the latest Nicosia Local Plan, allowing for commercial use such as showrooms, galleries, DIY, hypermarkets, cinemas, student halls etc. The property is zoned as ΕΠ6 (special use) with 160% building density, 50% coverage and a maximum of 4 floors.