Building in Agios Nektarios, Limassol

Reference ID: #SA38570 Price details: €1,150,000 Residential Building with Developement Potential in Agios Nektarios, Limassol. A unique residential property situated in the highly sought-after and centrally located area of Agios Nektarios, Limassol, offering an excellent combination of existing residential accommodation and significant developement potential. The property occupies a 553sq.m plot and currently comprises a building with two independent residences, one on the gournd floor and one on the upper floor, as well as additional auxiliary spaces at the rear of the property (8 bedrooms in total). Developement Potential: The property benefits from a 120% building density, 50% building coverage and permission for up to 3 floors, making it an attractive opportunity for developers and investors. The property presents two particularly appealing options: 1. Redevelopment: The existing building can be replaced with a new residential development, such as an apartment project, taking advantage of the plot's development potential. 2. Renovation & Investment: Alternatively, the existing residences can be renovated and upgraded, creating an attractive income-generating property suitable for long-term rental. With its central location, generous plot size, existing residential accommodation and strong development potential, this property represents an excellent opportunity for both property developers and investors seeking rental income in Limassol.