Areas Analysis
| Floor | Internal m² | Covered Verandas m² | Uncovered Verandas m² |
| Basement | 767 | - | - |
| Ground floor | 334 | 88 | 92 |
| 1st floor | 493 | 9 | - |
| Unexhausted Density | 525 | - | - |
| Total | 2120 | 97 | 92 |
Subject to confirmation
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Auction
Income Generating Commercial Building in Latsia, Nicosia
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Auction
- Lot 19
- Cyprus
- Commercial Building
- Commercial
Invited Opening Bid €2.300.000
Bidder Security €50.000 *fully refundable if unsuccessful bidder
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Property Summary
- Two-storey Commercial Building with basement in Latsia Nicosia.
- Prime location, situated on Latsia’s busiest road.
- Extending to a total of approx. 1.595 sq. m.
- Built on a 966 sq.m. commercial zoned plot of land with wide frontage of 54 meters.
- Unexhausted Building Density of 525 sq.m.
- Leased to renowned Bank generating a 6% yield.
- 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
- Two-storey Commercial Building with basement in Latsia.
- On-street parking.
- Basement parking area for 22 cars extending to 718 sq.m.
- Additional 8 parking spaces on ground floor.
- Certificate of Approval in place.
- Built on a 966 sq.m. commercial zoned plot of land.
- Buiilt in approx. 2012.
- Wide frontage (54 meters) onto Makarios III avenue.
- Unexhausted Building Density of 525 sq.m.
- On the ground floor, it comprises an entrance and lobby area with counter, 3 separate office rooms with glass partitioning and 4 open offices.
- On the first floor, it comprises 1 conference room, 5 glass partitioned offices, 5 open offices, a filiing room, a server room, 3 storages, 1 kitchen and 5 toilets.
- The property features raised floors with fitted carpet on the first and part of the ground floor and VRV Air conditioning system throughout.
- Provision for 2nd elevator upon development of additional floors.
- We have been informed that the property extends to approximately 1.595 sq. m. (areas breakdown in table below)
Location
- The property is located in Agios Georgios parish, Latsia municipality, Nicosia district under Land Reg. No. 0/8086.
- The property is primely located on Makarios III avenue, the main commercial artery of Latsia and is considered as point of reference of the wider area.
- It is situated approx. 600 m. east of Limassol avenue, approx. 1.6 km southeast of GSP junction, approx. 1.4 km east of the Limassol-Nicosia (A1) motorway, approx. 1.8 km south of Strovolos Industrial area and Mall of Cyprus and approx. 2.5 km southeast of Strovolos junction.
- The immediate area of the property is predominantly commercial and is surrounded by numerous amenities and services such as supermarkets, restaurants, gas stations, schools, offices etc.
Tenancy
- The property is leased to a renowned Cypriot bank generating a 6% yield. Lease agreement available for review in “Legal pack”.
Zoning
- The property falls within the "Εβ4" Commercial zone which allows for 140% building coefficient, 50% building coverage, 4 floors and up to 17 meters height.
Accommodation
The property was not inspected or measured by BidX1. The information was provided by the Vendor. We are informed that the property provides:
- Commercial building extending to a total of approximately 1.595 sq. m.
- It is recommended that interested parties undertake their own inquiries to confirm property measurements.
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.
