Auction
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Residential Building in Geroskipou, Paphos

  • Auction
  • Lot 20
  • Cyprus
  • Houses (Multiple)
  • Residential

Reserve €875.000

Bidder Security €10.000 *fully refundable if unsuccessful bidder
Auction Date 28 September
Bidding Opens 10:00:00 (GMT+3)
Bidding Closes 11:39:00 (GMT+3)

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Property Summary

  • Three storey Residential building in Geroskipou, Paphos.  
  • Comprises 6 x 1 bed and 3 x 3-bed apartments.
  • Fully tenanted producing €39.360 per annum.

Contact Us

Solonas Charalambous
Solonas Charalambous
Property Agent, here to help.
Loukis Papaphilippou & Co LLC
Vendor's Solicitor

Contact Us

Solonas Charalambous
Solonas Charalambous
Property Agent, here to help.
Loukis Papaphilippou & Co LLC
Vendor's Solicitor

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Property description

  • Three storey residential building in Geroskipou.
  • Comprises a total of 9 apartment units (Areas breakdown in the table below).
  • Built in approx. 2005.
  • Covered parkings and storages on the ground floor.
  • We are informed that the property extends to a total of approx. 609 sq. m. of internal areas and covered verandas of 117 sq.m.
  • “The asset does not qualify for the 50% reduction of property transfer fees imposed or levied by the Department of Lands and Surveys (Fees and Charges) Law (Cap.219). We recommend that you seek independent advice regarding any applicable transfer fees.”

Location

  • The property is located in Geroskipou municipality, Paphos District, under Land Reg. No. 0/6790.
  • The property is situated on Anaxagorou Street, approx. 100 m. south of Makarios III avenue, approx. 75 m. north of Griva Digeni, approx. 950 east from Pafiako stadium and approx. 2.5 km north from Poseidonos avenue and the sea.
  • The immediate area is predominantly residential consisting of houses and apartment buildings as well as commercial development with services along Makarios III avenue. 

Tenancy

  • The building is currently fully tenanted producing a total income of €39.360 per annum (Analysis in the table below). 

Zoning

  • The property falls within the Κα4 Residential Zone, which allows 120% building coefficient, 50% building coverage, 3 floors and 13.5 meters height. 

Accommodation

The property was not inspected or measured by BidX1. The information was provided by the Vendor. We have been informed that the property provides:

  • Residential building that consists of nine apartments.
  • Total enclosed areal of approx. 609 sq.m. and approx. 117 sq.m. uncovered verandas.
  • It is recommended that interested parties undertake their own inquiries to confirm property/building measurements.

Additional Details

Flat no.Internal
(m2)
Covered Verandas
(m2)
Rent p.m.
1015212€350
1029915€380
1045212€300
2015212€400
2029915€350
2045212€400
3015212€350
3029915€350
3045212€400

VAT

VAT not applicable - Interested parties are exclusively responsible to verify and/or ascertain whether the sale of the Property is not subject to VAT.

*Terms & Conditions

Islanders Estate Agencies Ltd as a licensed Estate Agent, T/A BidX1 Cyprus Sales, Registration No: 739 / Licence No: 376/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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