UNIQUE INVESTMENT OPPORTUNITY - INCOME PRODUCING ASSET

A commercial building, primely located on the corner of Arch.Makarios Avenue and Ioannou Polemi street, in Apostoloi Petrou & Pavlou parish of Limassol Municipality. The immediate area is characterized by high-rise buildings, with shops on the ground floor and offices/apartments on the upper floors. The property is partially rented to a major local banking institution, covering part of the basement, whole ground floor and mezzanine.

The building has 7 levels, constituted of a basement, a ground floor with a mezzanine and five floors.
-The ground floor and mezzanine consist of a reception area, offices, kitchen, storage room, ATMs and toilets. Ground Floor enclosed area is approx at 708 sq.m and Mezzanine at about 290 sq.m. TENANTED BY A MAJOR LOCAL BANKING INSTITUTION.
-The first to third floors have similar lay out and consist of open plan office spaces, kitchen, server rooms, storage rooms, toilets and other auxiliary spaces. All three floors have an enclosed area of approx. 355 sq.m. VACANT
-The fourth floor has a similar layout with the first three but is much larger with an enclosed area of approx. 510 sq.m. VACANT
-The fifth floor consists of reception area, conference rooms, file room, toilets and offices and has an enclosed area of approx. 212 sq.m. VACANT
-The basement consists of 22 parking spaces for the whole building and a strong room utilized by the retail bank operating ton the ground floor. .

The asset is located approximately 500m from B8 motorway and approximately 2.5km from Limassol Marina.

The property falls within a duel Zone ??4 (52%), with a building coefficient of 120%, coverage of 50%, and permission for 3 floors (13.5m) of construction and Zone ??2 (48%) , with a building coefficient of 180%, coverage of 50%, and permission for 6 floors (24m) of construction.

Energy Category: C

GPS Coordinates: 34.686120 33.033625