This asset is a semi-detached building on a 348sqm plot in Taktalkale quarter within the Old City walls of Nicosia.

The asset benefits from a road frontage of 15m and comprises a ground floor of approx 130sqm and a semi -basement of approx 135sqm. The semi-basement enjoys the use of an internal yard.

The immediate area of the property comprises listed buildings of residential and commercial use and is considered to be the traditional commercial centre of Nicosia.

Listed Properties also benefit in three different ways:
Financial Incentives which is the direct sponsorship given by the State to the owner for the complete maintenance of the listed building. No incentives are provided for partial building maintenance.
Transfer of Building Factor which is on the one hand the utilization of development rights that are not used in the protected plot by selling a remaining building factor and on the other hand securing additional sponsorship in the maintenance cost by selling a given building factor. This incentive operates in the free market without state mediation.
Tax Incentives which are the tax exemptions and tax-free rental income that can be taken by the owner of a listed building that has maintained it according to the Conservation Principles.