Commercial building in Kato Polemidia, Limassol
-
Auction
- Lot -
- Cyprus
- Land/Site
- Commercial
Sold for €590.000
Property Summary
- Three-storey detached Commercial building (basement, ground floor, mezzanine).
- Extending to approx. 262 sq. m. basement area, 232 sq. m. of enclosed area and 78 sq. m. of mezzanine
- Built on a plot of land extending to approx. 521 sq. m.
- Unexhausted Building Coefficient of approx. 288 sq.m.
- The building is currently rented at €2.500/month +VAT with renewal after 3 years at €2.900/month +VAT. Tenant not affected.
- ±6.0% ROI potential.
- This property has a minimum conditional price subject to confirmation (STC). The highest offer is subject to approval by the vendor, who has a maximum of 2 working days to respond. In the meantime and in case of approval by the vendor the highest offer placed will be mutually binding. You will find more information in the Terms and Conditions.
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Property description
- Three-storey detached Commercial building
- The building comprises parking area and storage room in the basement level, a unified showroom area, office spaces, kitchenette and toilet on the ground floor and office spaces, kitchenette and toilet on the mezzanine level.
- Built on a plot of land extending to approx. 521 sq.m.
- Unexhausted Building Coefficient of approx. 288 sq.m.
- The building was constructed approx. in 1990.
- The building is currently rented at €2.500/month +VAT with renewal after 3 years at €2.900/month +VAT.
- We have been informed that the building extends to approx. 262 sq. m. basement area, 232 sq. m. of enclosed area and 78 sq. m. of mezzanine.
- In line with the current market trends, this property has a potential to generate a ROI in the range of ±6.0%
Location
- The property is located in Archangelos Michael Parish, Kato Polemidia Municipality, Limassol district, under Land Reg. No. 0/25632.
- The property enjoys corner position along Vasilissis Sofias and Kivelis streets and is situated approx. 140 m. from Paphou junction and approx. 20 m. from Paphou street.
- The wider area of the property consists of both commercial and residential developments such as shops, offices, blocks of apartments and houses.
Tenancy
- The building is currently rented at €2.500/month +VAT with renewal after 3 years at €2.900/month +VAT.
- Tenant not affected.
Zoning
The property falls within the Eβ6 Commercial Zone which allows for 100% Building Density, 50% Building Coverage, 3 floors and up to 13.50 meters high.
Accommodation
The property was not internally inspected or measured by BidX1. The information was provided by the Vendor. We have been informed that the property provides:
- Rented commercial building extending to a total of approx. 572sq. m.
- It is recommended that interested parties undertake their own inquiries to confirm property measurements.
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*Terms & Conditions
Islanders Estate Agencies Ltd (as a licenced Estate Agent), T/A BidX1 Cyprus Sales, Registration No. 1251, Licence No. 625/E. No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the vendor in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the vendor. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the vendor. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor.
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