for Sale in Famagusta – Agia Napa, Limassol District

TWO LISTED BUILDINGS – PRIME DEVELOPMENT OPPORTUNITY in Agia Napa, Limassol.
A unique investment opportunity to acquire two adjoining listed buildings in the heart of the Old Town, offering excellent potential for restoration, redevelopment and income generation.
Property Details

Asking Price: €1,400,000
Building 1: 180 m²
Building 2: 307 m²
Total Existing Building Area: 487 m²
Building Coefficient: 1.6
Permitted Height: 7 metres
Additional Development Density: 500 m²

Both historic buildings feature access to internal courtyards and offer the potential to be converted into residential units or office spaces, subject to the relevant approvals.
Additional Investment Benefits

Restoration Subsidies: Potential eligibility for government grants or subsidies towards the restoration of listed buildings, subject to the applicable criteria.
Tax Advantages: Potential tax benefits for qualifying income-generating activities, subject to the applicable legislation and ownership structure.
Transferable Development Density: The additional development density of 500 m² may be transferable and utilised on another eligible property, potentially generating an estimated value of approximately €500,000, subject to approval and market conditions.

An exceptional opportunity for investors and developers seeking a historic property with redevelopment potential, additional development rights and possible financial incentives.