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  • €2,800,000
    •
    CHECK IF AVAILABLE
    CHECK IF AVAILABLE
  • Business
  • For Sale 
  • Limassol
  • cyprus Flag Cyprus
The building brings a beautiful contemporary design to Limassol s old town with another iconic development.  Our award winning architects and designers have thoughtfully created a spacious building with six floors and a rooftop. This property is delivered with a top standard finishing offering the best use of common spaces and stunning individual offices for a productive and efficient work environment. An desirable by anyone. It is right in the heart of Limassol town surrounded by retail shops cafeterias restaurants law firms banks etc. The building features 800sq.m. of covered area plus c. 80 sq.m. of roof top space. Covered internal 756 sq. Covered extetnal 211 sq. Uncovered external 22sq. Covered internal 41sq. Covered external 123sq. Uncovered external 22q. The building has been leased in its entirety for 15 000EUR monthly (or 180 000EUR annually) for a period of 5 years (primary period) and the tenant has the option to renew the tenancy for an additional period of 5 years. Rent increases by 2.5% annually hence year two monthly rent is 15 375EUR (184 500EUR p.a) year three 15 760EUR (189 120EUR p.a) year four 16 150EUR (193 800EUR p.a) and year five 16 560EUR (198 720EUR p.a). Total amount received from leasing in the first five years 946 140EUR. The tenant is Well established online gaming company with offices around the world employing in excess of 250 employees. Payments are made every 4 months in advance and the owner holds a two month deposit guarantee. The asking price for the property  represents a 6.4% rental yield (on year 1). The property is owned by an SPV therefore the buyer will NOT bear any VAT nor transfer fees as the buyer can acquire the shares of the company.        

Building (sqm):800
Plot (sqm):216
REF:B 110431
The building brings a beautiful contemporary design to Limassol s old town with another iconic development.  Our award winning architects and designers have thoughtfully created a spacious building with six floors and a rooftop. This property is delivered with a top standard finishing offering the best use of common spaces and stunning individual...
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