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Investment Building For Sale

Property ID: 1868, CYP / Limassol, Omonoia

Description

This office building was built on a plot of 3.077   enjoying access from three side roads and incorporates basement, ground floor reception and three office floors, above, totaling 3.893  office space.

Gated parking is located on the ground floor level incorporating 65 parking spaces, accessed through two remote controlled gates located on the side of the property.

There are currently 11 tenants with yearly tenancy contracts that occupy 90% of the buildings office area. A number of them wish to extend the office space they currently occupy, as well as a number of new prospect tenants with which we are in negotiation. W aim to achieve full occupancy within the next three months. 

Current monthly revenues amount to to €36,726 circa €440K per annum. We expect that by year and we shall achieve € 40,000 per month, circa € 480 K per annum. 

The current yield is estimated at 4%, however with 5% increase in rental revenues per year we estimate that the 10 years period yield will average above 5% per year. 

 

 

Features

carpet, central heating, security, parking-covered, alarm system, air conditioning, IT cabling CAT 6, toilets, double glazing windows

Location

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