Build­ing for sale/​Limassol

#11936 Building for sale/Limassol

The building features 871sq.m.of covered area (725sqm NIA and 150sqm covered verandas) plus c.70 sq.m.of rooftop space.

Located in the heart of Limassol

• Easy reach to all necessary infrastructure

• Shell & Core Offices

• Fully-finished offices

• Raised floors

• High-Ceiling

• Advanced technology provisions

• Impressive exterior

• Cooling and heating with VRV systems

• Common facilities include a reception area and roof garden

The building has been leased in its entirety for 15,000EUR monthly (or 180,000EUR per annum) for a period of 5 years(primary period) and the tenant has the option to renew the tenancy for an additional period of 5 years.

Rent increases by 2.5% annually, hence year two monthly rent is 15,375EUR (184,500EUR p.a)year three -15,760EUR (189,120EUR p.a)year four– 16,150EUR (193,800EUR p.a) and year five –16,560EUR (198,720EUR p.a).

Total rent received in the first five years 946,140 EUR.

The price for the property is 2,800,000EUR which represents a 6.4% rental yield (on year 1).

The property is owned by a company and will NOT bear any VAT or transfer fees, as the buyer can acquire the shares of the company.

The project is to bedelivered by 30thof June2022.

Main information
  • Region Limassol
  • District Centre
  • Location Centre
  • Sale price € 2,800,000
Details
  • Year built 2022
  • Area 871 m2
Features
  • Air condition
  • Central heating
  • Parking
  • Under construction
  • Subject to VAT
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