Within the storied walls of Nicosia, this mixed-use property offers a unique investment opportunity in a city undergoing significant transformation. The Walled City is currently experiencing a resurgence, with over €28.8 million allocated for revitalization projects aimed at attracting young residents, fostering economic activity, and enhancing the urban landscape. Key developments include: • Educational Expansion • Cultural and Creative Hubs • Recognition as a City of the Future Property Highlights: Location: Tampakhane, Pericleous Street, and Paleon Patron Germanou Street, Nicosia Building Type: Mixed-use (Shops & Residential) Total Plot Size: 279 sqm Total Covered Area: 694 sqm Total Uncovered Verandas: 46 sqm Walking Passage: 60 sqm 📜 Zone: Ka-a Density Factor: 140% Coverage Factor: 70% Building Height: 8 m Floors: 2 Ground Floor: Total Area: 260 sqm, Shops: 6 units (200 sqm total), Walking Passage: 60 sqm First Floor: Total Area: 278 sqm, Apartments: 3 units (88 sqm each, 3 bedrooms), Uncovered Verandas: 15 sqm Second Floor: Total Area: 262 sqm, Apartments: 3 units (77 sqm each, 3 bedrooms), Uncovered Verandas: 31 sqm 🔧 Renovations Year 2021: Building infrastructure upgrades, including plumbing, electrical systems, and roof maintenance 💰 Current Monthly Income: €4,660, Shop & Residential 📈 Development Potential: ✅ Remodelling Plan: Convert 6 apartments to 15 studios (33 sqm each) ✅ Approved Building Permit ✅ Planned Use: Business travellers (Airbnb) & Student Housing ✅ Approved Licenses: Renovation, Business Operation (Hotel) • Evacuation Terms: o Residents: 2 months' notice o Shops: 3 months' notice 💸 Projected ROI After Renovations: Anticipated to exceed 15%, reflecting a lucrative investment potential This property offers a unique opportunity for investors seeking high returns through residential and commercial leasing, along with potential as a boutique hotel or student accommodation.