Property ID : A30125
Sold €2,650,000 - Building
A solid investment opportunity in a yield producing, four storey office building situated on Strovolou Avenue, in the heart of Nicosia.
The asset of total internal area of approximately 1.032 sq.m. plus 414 sq.m. of basement area, is currently rented for 5+5 years to a blue chip tenant, with a ROI of approximately 5.8% and every two year rental increase reaching up to 6.8%.
The ground floor offers a reception area with waiting area, an open plan office space, two conference rooms, a partitioned office, a kitchenette, and toilet facilities.
The mezzanine level consists of a staging room, a server room, an office space, a kitchen, and toilet facilities.
The first and second floors are divided into office spaces, each with its own conference room, kitchen and toilet facilities.
The third floor has a reception area, an open plan office space, a small kitchen area, toilet facilities, and a large uncovered terrace of approximately 54 sq.m.
The underground parking area has 11 individual parking spaces that can be accessed via an internal staircase and elevator, as well as externally through a ramp.
The asset abuts Pedieos river and its pedestrian way, and is located in the commercial heart of Nicosia, in Strovolou avenue, in between of a plethora of amenities and services, 170m south of Athalassas avenue, 750m South of the Presidential Palace, 2.8km to Kalispera trafic lights, and about 3km to Makariou Avenue junction.
The property falls within Zone Eβ3 with a building coefficient of 160%, coverage of 50%, and permission for 6 floors (24m) of construction. A30125
