Building with title deed, return 6.4% roi, with built area of 871 sqrm, within a plot of area 216 sqrm, in the area of Limassol within Limassol (Lemesos) district. Main features include: Elevator, garden, store room,study room,double glazing,gated parking,internet connection,roof garden,marble floors,modern architecture,shutters,conference room,reception area,strctured cabling,open area - no panels. Central Heating: a/c hot/cold. The Energy Efficiency Class of the building is A. Τhe plot area is 216 square meters. Walking distance from: bank, pharmacy, hair dresser, beauty salon, corner shop, bakery, park, sea/beach. 5 minutes from: nursery, primary school, secondary school, university, supermarket, childrens play area, communal swimming pool, gymnastics center, Church, beach. View of: sea, town. It is within close proximity to: Columbia and Seaside Road (Limassol). The type of road leading to the property is tarmac secondary road. The investment is € 3,215 per covered square meter. The property has no VAT tax. This Building has title deed ready. An excellent investment opportunity with an annual return of 6.4% ROI!

To sum it up; the building features 871sq.m. of covered area (725sqm NIA and 150sqm covered verandas) plus c. 70 sq.m. of rooftop space.

The building has been leased in its entirety for 15,000EUR monthly (or 180,000EUR per annum) for a period of 5 years (primary period) and the tenant has the option to renew the tenancy for an additional period of 5 years. Rent increases by 2.5% annually, hence year two monthly rent is 15,375EUR (184,500EUR p.a), year three - 15,760EUR (189,120EUR p.a), year four – 16,150EUR (193,800EUR p.a) and year five – 16,560EUR (198,720EUR p.a). Total rent received in the first five years 946,140EUR.

The tenant is a very well-known Russian online gaming company with offices in Russia and Limassol, employing in excess of 250 employees. Payments are made every 4 months in advance and the owner holds a two-month deposit guarantee. The tenant has already paid 2 months of deposits (30,000EUR) and has prepaid 4 months of rent (72,000eur including VAT).

The asking price for the property is 2,800,000EUR which represents a 6.4% rental yield (on year 1). The property is owned by an SPV, therefore the buyer will NOT bear any VAT or transfer fees, as the buyer can acquire the shares of the company.

The project is to be delivered by 30th of April 2022