Property Description

The asset of a total internal area of approximately 1.032 sq.m. plus 414 sq.m. of basement area, is currently rented for 5+5 years to a blue chip tenant, with an ROI of approximately 5.8% and every two-year rental increase reaching up to 6.8%.
The ground floor offers a reception area with a waiting area, an open-plan office space, two conference rooms, a partitioned office, a kitchenette, and toilet facilities.
The mezzanine level consists of a staging room, a server room, an office space, a kitchen, and toilet facilities.
The first and second floors are divided into office spaces, each with its own conference room, kitchen, and toilet facilities.
The third floor has a reception area, an open-plan office space, a small kitchen area, toilet facilities, and a large uncovered terrace of approximately 54 sq.m.
The underground parking area has 11 individual parking spaces that can be accessed via an internal staircase and elevator, as well as externally through a ramp.
The asset abuts Pedieos River and its pedestrian way and is located in the commercial heart of Nicosia, in Strovolou Avenue, in between a plethora of amenities and services, 170m south of Athalassas Avenue, 750m South of the Presidential Palace, 2.8km to Kalispera traffic lights, and about 3km to Makariou Avenue junction.
The property falls within Zone Eβ3 with a building coefficient of 160%, coverage of 50%, and permission for 6 floors (24m) of construction.

Property Features

Air Conditioning
Energy Efficiency - Class B
Furnished - White Goods
Gated Community
Parking - 1 Covered
Parking - 1 Uncovered
Parking - 2 Covered
Parking - 2 Uncovered
Roof garden
Security Alarm
Separate Kitchen
Storage room

Transfer Fees

€102,600 Transfer fees + €5,208 Stamp Duty
€99,200 Transfer fees + €5,208 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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