For Sale: Investment (Building) in City Center, Limassol | Key Realtor Cyprus

For Sale: Investment (Building) in City Center, Limassol  | Key Realtor Cyprus
For Sale €2,700,000  
15914 11 Year Built

The building is a young age built with good quality materials with columns and masonry of reinforced concrete, brick and flat roof. Both the store and the office spaces on the floors have a ceramic floor and internal wood doors. They have external doors and glass windows in an aluminum frame. They have split unit air conditioners in all areas. The ground floor communal areas, the entrances to the floors and part of the staircase have a granite floor. The building is served by a stairwell and a lift. The ground floor of the building is externally lined with limestone stone. It is very good condition and maintenance.

The immediate area of the property has been substantially upgraded in recent years since the start of the TEPAK works in September 2005 and the restoration and reconstruction of old buildings that are being used and will be used in the near future to accommodate more and more students.

The property is centrally located in the heart of the commercial center of Limassol, very close to Town Hall and the Library of TEPAK, as well as the Municipal Market.

The property belongs to the Pa6 development zone with a maximum building factor of 1.80: 1, covering 0.70: 1 on 3 floors and permitted uses related to core zones such as shops, offices, restaurants, etc. It has all the necessary services, namely water supply, electricity and telephone.

Today the entire building is rented  to a AAA tenant that owns the other floors.

The total rent of the building amounts to € 67,200 per year.

 

Additional Details

  • Covered Area: 446 m2
  • ROI: 3.5 %

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