UNIQUE INVESTMENT OPPORTUNITY - INCOME PRODUCING ASSET

A commercial building, primely located on a corner in Apostoloi Petrou & Pavlou parish of Limassol Municipality. The immediate area is characterized by high-rise buildings, with shops on the ground floor and offices/apartments on the upper floors. The property is partially rented to a major local banking institution, covering part of the basement, whole ground floor and mezzanine.

The building has 7 levels, constituted of a basement, a ground floor with a mezzanine and five floors.

-The ground floor and mezzanine consist of a reception area, offices, kitchen, storage room, ATMs and toilets. Ground Floor enclosed area is approx at 685 sq.m and Mezzanine at about 299 sq.m. TENANTED BY A MAJOR LOCAL BANKING INSTITUTION.
-The first to third floors have similar lay out and consist of open plan office spaces, kitchen, server rooms, storage rooms, toilets and other auxiliary spaces. All three floors have an enclosed area of approx. 376 sq.m each. The first floor only, benefits of about 124 sq.m uncovered veranda. VACANT
-The fourth floor has a similar layout with the first three but is much larger with an enclosed area of approx. 541 sq.m. VACANT
-The fifth floor consists of reception area, conference rooms, file room, toilets and offices and has an enclosed area of approx. 301 sq.m. It benefits of uncovered and covered verandas of about 70 sq.m and 86 sq.m respectively. VACANT
-The basement consists of 18 parking spaces for the whole building and a strong room of about 183 sq.m utilized by the retail bank operating ton the ground floor. There are additional 3 parking spaces on the ground floor level.

The asset is located approximately 500m from B8 motorway and approximately 2.5km from Limassol Marina.

The property falls within a duel Zone Κα4 (52%), with a building coefficient of 120%, coverage of 50%, and permission for 3 floors (13.5m) of construction and Zone Εβ2 (48%) , with a building coefficient of 180%, coverage of 50%, and permission for 6 floors (24m) of construction.

Energy Category: C

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