Commercial for sale
Nicosia, Cyprus
£1,265,779 *
[€1,454,000]
Full Description
An exceptional investment opportunity in a five-storey mixed-use building with mezzanine and basement, ideally located on Acropoleos Avenue, one of the capitals' most central commercial Avenues.
The building comprises of:
Ground Floor:
• One small retail shop of approximately 30 sq.m., with a mezzanine of approximately 30 sq.m.
• One large retail shop of approximately 120 sq.m., with a mezzanine of approximately 120 sq.m.
• 1st – 3rd Floors:
Each floor of approximately 190 sq.m. is divided in 2 separate office spaces of approximately 95 sq.m. each and suitable for professional use.
• 4th Floor:
A two-bedroom penthouse apartment of approximately 106 sq.m of internal areas and approximately 84 sq.m. of of uncovered verandas.
• Basement area of approximately 340 sq.m.
Most floors are tenanted with a current rental amount of €65.960 and a current yield of 4.5%.
Offices 102, 302 and penthouse apartment are vacant with a potential market rent of €31.200.
Subject to full tenancy the property should have a total rental amount of €97.160 and a yield of 6.7%.
Additionally, the property benefits from 11 parking spaces and storage rooms located on the ground floor and basement level, enhancing functionality for both commercial and residential tenants.
The asset enjoys a prime central location, within walking distance to numerous amenities and services. It is situated approximately 20 metres southwest of Ayios Demetrios traffic lights and around 150 metres southeast of Makarios Hospital, ensuring excellent accessibility and strong commercial visibility.
The property falls within Planning Zone Eß3, which allows:
• Building Density: 160%
• Coverage: 50%
• Maximum Floors: 6
• Maximum Height: 24 metres
Pending issuance of Energy Performance Certificate.
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