Unit | Registration No. | Weighted Avg. Area (m2) | Market Rent (€) | Monthly Market Rent (€) | Annual Market Rent (€) | Period | Tenant |
|---|---|---|---|---|---|---|---|
Office No.3 |
0/17985 |
151 |
16 |
2.416 |
29.000 |
2 + 2 yrs (+inflation) |
Law Firm |
Office No.101 |
0/17986 |
521 |
13 |
6.800 |
81.600 | Expires July 2025 upon renewal 2+2+2 yrs (increase upon renewal 0-8% to be negotiated) |
Government |
Office No.201 |
0/17987 |
508 |
13 |
6.800 |
81.600 | Expires July 2025 upon renewal 2+2+2 yrs (increase upon renewal 0-8% to be negotiated) |
Government |
Office No.301 |
0/17988 |
506 |
15 |
7.591 |
91.000 |
2 + 2 yrs (+inflation) |
Law Firm |
Office No.401 |
0/17989 |
505 |
15 |
7.583 |
91.100 |
2 + 2 yrs (+inflation) |
Law Firm |
1 / 7
Income Generating Commercial Building in Strovolos, Nicosia
- Cyprus
- Commercial Building
- Commercial
Asking Price €6.500.000
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Property Summary
- Income producing Commercial Building in Strovolos, Nicosia.
- The property comprises of 5 office units within a five-storey commercial building.
- Extending to a total of approx. 2,115 sq.m. of internal areas and 132 sq.m. mezzanine level.
- The 5 units are currently let to 2 occupiers with a total annual rent roll of €374,280.
- All the units of the building have separate title deeds.
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Property description
- Five-storey Commercial Building with basement and mezzanine in Strovolos.
- The building comprises of two basements with covered parking spaces and storages, ground floor shops and five offices on the upper floors. Built in approx. 2011.
- Specifically, the 5 units for sale are located as 1 office on the ground floor and 4 offices on the upper floors.
- All the offices are fully rented with an annual market rent of €374.300.
- Extending to a total of approx. 2,115 sq.m. of internal areas and 132 sq.m. mezzanine level (areas breakdown in table below).
Location
- The property is located in Chryseleousa quarter in Strovolos Municipality, Nicosia.
- located on Vyzantiou Avenue at a distance of 50 meters (approx.) north of Cyprus Post Office and 550 (approx.) east from Metochi Church.
- 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 offices are rented for €374,280 per annum year with a gross yield of 5.8%.
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 approx. 2,115 sq.m. of internal areas and 132 sq.m. mezzanine level.
- It is recommended that interested parties undertake their own inquiries to confirm property measurements.
VAT
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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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