(Residential) in Agia Napa, Limassol for Sale

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.