375m² Commercial Property for Sale in Strovolos, Nicosia District

Leasehold industrial building situated in Strovolos industrial area Apostolos Varnavas Agios Makarios quarter Nicosia. The asset consists of the administration building on its western part of approximately 170 sq.m. of internal areas and an open plan workshop area on its eastern part of approximately 635 sq.m. of internal areas. The administration building consists of a ground floor with offices changing rooms with toilets and a kitchen and an upper floor consisting of two office units. The warehouse area is divided with gypsum boards into two separate spaces. The basement consists of an open plan storage space of approximately 375 sq.m and it is rented. The current lease term expires on 30 04 2045 with an option to renew for a further 33 years i.e. until 2078. The asset also benefits from a two road access and a wide road frontage of approximately 95m. Its central location provides easy access to Nicosia and the motorway to Larnaca and Limassol. More specifically it is located approximately 700m to B22 Nicosia Larnaca Limassol motorway and approximately 3km from the Mall of Cyprus. The property falls within three Zones. Zone Κα6 4 with a building coefficient of 90 coverage of 50 and permission for 2 floors 10m of construction and Zone Εβ4 2 with a building coefficient of 140 coverage of 50 and permission for 4 floors 17m of construction and Zone Ββ1 94 with a building coefficient of 100 coverage of 60 and permission for 2 floors of construction. The property is subject to a partial vat treatment which the land value will be subject to 19 vat and the rest of the sale price will be subject to transfer fees