InsiderBusinessCity Plaza Building Primed for New Purchase

City Plaza Building Primed for New Purchase

City Plaza has long enjoyed a reputation as one of the best-known commercial buildings in Nicosia. And today this urban architectural icon is available to purchase only with Reinvest, as part of the leading real estate company’s extensive portfolio of investment opportunities across Cyprus.  

Strategically located right in the heart of the capital in the Trypiotis Area of Makarios avenue – the most central and commercial thoroughfare of the city – City Plaza comprises four-floors, with individual units arranged around perimeter walkways, linked by vertical circulation and overlooking a majestic central courtyard.  

With a total covered area of 4,669m², the first three floors of the building feature 19 shops each with an internal area ranging from 778m² to 943m², the top floor of the building is a united lot without any partitions and an approximate covered area of 1,232m². All floors can be unified in this way to create larger spaces. A basement provides storage facilities, as well as parking spaces for approximately 75 vehicles. This subterranean space connects to the whole building via access to the main lifts.  

The property offers investors a myriad of high yield development opportunities. With an option to be reactivated as a retail department store or repurposed as an office building with flexibility for a variety of floor layouts or serviced offices. or a mixed-use hub with a combination of shops and offices. The building’s unique sunken courtyard has the potential to be repurposed as an F&B court. 

And with the revamp of the area surrounding City Plaza with recently updated public amenities, this asset delivers an appealingly lucrative proposition for investors looking to expand their portfolio right in the centre of the capital. In fact, City Plaza is part of the ‘Nicosia Local Plan’ and according to the incentives offered, with potential for additional building coefficient. 

For more information about this exclusive investment opportunity, or for price requests, please contact REInvest directly, or visit our web site at:   

About REInvest  

Part of the Resolute Asset Management group of companies, REInvest, is a leading real estate agency with extensive market presence throughout Cyprus. Founded in 1980, REInvest has garnered vast expertise in property management and real estate solutions, delivering a wide range of management and operational services for the construction and the real estate sector.  

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