Whole building for sale near the University of Limassol TEPAK
For Sale / EUR 770.000
This building is located very near the University of Limassol (TEPAK - ΤΕΠΑΚ) making it very suitable to convert it to students residences.
According to the Limassol Local Plan, the land falls within the planning zone ‘Πα7’ Core Zone which sets out the following parameters:
Maximum Building Density: 160%
Maximum Coverage Density: 70%
Maximum num. Of floors: 3
The current building is old (1960s) and should be fully renovated in order to be rented out. As per civil engineers opinions, the structure is of good condition which could be reinforced to hold additional development. The current structure has an area of 175m2 and the building density allows to built 298m2 covered areas so any potential buyer can built another 123m2 on top of the existing. Any potential investor can decide whether to demolish or not the existing building according to his/her wish.
Title Deed available by request.
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