Property Description

The asset relates to a two-story commercial warehouse currently rented and operated as a recording studio located in Dali industrial area
The ground floor of about 290 sq.m. consists of a reception area, a recording/control studio area, an engine room, an orchestra & performance room, an office area, a server room, a kitchen, and toilets.
The first floor of about 170 sq.m. is accessed via an external metal staircase and it consists of six offices, a conference room, a server room, and a kitchen. toilets and a storage area. Additionally, there is a provision for an elevator.
The property is currently rented until 31/01/2024 with a rental yield of 5.2% (€29.172 annually) and from 01/02/2024 until 31/01/2027 with a rental yield of 5.5% (€30.636 annually)
The asset is located in the Dali Industrial Area, approximately 1km from the motorway. The immediate area consists of industrial warehouses, workshops, factories, and storage facilities.
The property falls within Zone Bα3, with a building coefficient of 100%, coverage of 60%, and permission for 2 floors (-m) of construction.

Property Features

Air Conditioning
Furnished - White Goods
Parking - 1 Uncovered
Parking - 2 Uncovered
Separate Kitchen
Storage room
Wheelchair facilities

Transfer Fees

€19,000 Transfer fees + €1,028 Stamp Duty
€15,600 Transfer fees + €1,028 Stamp Duty
The above calculations are an indication of your tax liability and legal fees when buying a property in Cyprus. The Cyprus Land Registry calculations may differ since are based on thier own property valuation price.
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