Residential Building with Redevelopment Poten
Situated in the heart of Limassol’s Historical District, this residential building presents an excellent opportunity for investors, developers, and property owners seeking a project in a central urban location.
The property occupies a 147 sqm plot, with a total buildable area of 353 sqm. Currently in an unrenovated condition, the building offers significant potential for redevelopment, modernization, or conversion into a contemporary residential and commercial investment.
The proposed project envisions a mixed-use development comprising six one-bedroom apartments, complemented by commercial or office space on the ground floor and mezzanine level.
Combining residential accommodation with commercial potential, the property benefits from its location within one of Limassol’s established urban districts, offering convenient access to shops, offices, restaurants, services, and the wider city centre.
Whether intended as a redevelopment project or a long-term investment, this property represents an attractive opportunity to create a versatile mixed-use building in a sought-after central location.
Key Property Features
Location: Historical District, Limassol
Plot Size: 147 sqm
Buildable Area: 353 sqm
Current Condition: Unrenovated
Proposed Development: Mixed-use residential and commercial building
Residential Units: 6 one-bedroom apartments
Commercial Component: Ground-floor and mezzanine office/commercial space
Investment Potential: Redevelopment, modernization, and rental income opportunities
Type 1 Apartments (~79 SQM):
Open-Plan Living/Kitchen/Dining (LKD): Located along the upper front exterior wall. The kitchen area is clearly defined (sink, counter space) and flows directly into the main living and dining space.
Bedroom: A large, irregular-shaped room in the corner with a double bed symbol, built-in wardrobe, and an attached en-suite bathroom.
En-Suite Bathroom: Directly off the master bedroom, equipped with a sink, toilet, and shower/bathtub.
Guest Bathroom: Located between the LKD and the Flexible Room, accessible from the main circulation area. It contains a sink, toilet, and shower.
Utility: A small alcove near the kitchen/entrance is reserved for a washing machine.
Type 2 Apartments (~68 SQM):
Open Plan Kitchen/Living/Dining (LKD): This unit type is dominated by a large L-shaped open-plan space. The kitchen is defined near the entrance with full appliance provision (refrigerator, oven, dishwasher, microwave). The living and dining areas extend towards the front, with large windows along the curved exterior.
Bedroom: This is the single, designated bedroom. It occupies the curved end of the building, providing a unique architectural feature and ample natural light. It includes a built-in wardrobe/closet.
Bathroom: The type has one central bathroom, containing a sink, toilet, bidet, and shower/bathtub.
Utility/Laundry: A recessed area near the kitchen/entrance is dedicated to a washing machine and small storage.
Frequently Asked Questions (FAQs)
1. Where is the property located?
The property is situated on Glastonos Street in Limassol’s Historical District, a central urban area with access to a wide range of amenities and services.
2. What is the size of the plot?
The property occupies a plot of 147 sqm.
3. What is the total buildable area?
The total buildable area is 353 sqm.
4. What is the current condition of the building?
The building is currently unrenovated, offering buyers the opportunity to modernize or redevelop the property according to their investment objectives.
5. What is the proposed development?
The proposed concept is a mixed-use building featuring six one-bedroom apartments, together with commercial or office space on the ground floor and mezzanine level.
6. Is the property suitable for investment?
Yes. Its central location, proposed residential units, and additional commercial component make it an interesting opportunity for investors and developers seeking a mixed-use property in Limassol.
7. What type of income potential does the property offer?
The proposed layout offers the possibility of generating rental income from both the six residential apartments and the commercial or office spaces, subject to development and market conditions.
8. Can the building be renovated or redeveloped?
The property offers potential for modernization or redevelopment. Any proposed works or changes should be subject to confirmation of the applicable planning permissions, building regulations, and approvals from the relevant authorities.
A promising redevelopment opportunity in the heart of Limassol’s Historical District, combining residential and commercial investment potential in one central location.
