The asset is a mixed-use commercial building in Paralimni, Famagusta. The asset is in excellent condition, enjoys great visibility and is ideal for spacious showroom or offices. The asset has a total land area of 5085sqm and has a total covered area of 2218sqm. It offers close proximity to all amenities.
- Unique opportunity to secure long-term income
- Newly developed commercial building
- High quality tenants: corporate and government bodies
- Growing demand for office space in the municipality due to relocation of Government services
First tenant - Rent increase to €31,800p.a. from October 2020 and to €33,600p.a. from October 2022 onwards. Option to renew until 2028.
Second tenant is government bodies for which a rent reduction has been agreed due to the lack of CoFA. Verbally expressed interest to extend leases and increase the rent, provided CoFA obtained