Details

Situated in a highly prominent position on Spyrou Kyprianou avenue, one of the most high profile locations in Limassol.

• Comprises approximately 198 sq.m. of retail/office space over ground floor and Mezzanine
• Single let to a reliable tenant with the tenancy expiring in May 2021 at a current rent of €25,000 per annum which reflects approximately a monthly rate of €10.38 per sq.m., providing scope for future rental growth
• The current passing rent appears to be low compared to the open market. Based on independent market research, there is an opportunity in 2021 the current rent to be increased to a monthly rate of €20 per sq.m., which would provide an overall passing rent of €47,760 per annum
• Asking price reflects a Net Initial Yield of 2.9%, with an opportunity to increase in 2021 according to the open market to 5.5%
• There will be no VAT applicable on sale

Shop area: 132 sq.m.

Mezzanine: 66 sq.m.