Commercial Building In Limassol, Limassol

Description

For sale three offices of total covered area of 1118.54 square meters on top of Timoset furniture shop. They have their own private entrance.

It is very hard to find offices at Kolonakiou street which is the most commercial road in Limassol & secondly not possible to find for sale at only 4000 per square meter no vat). nbsp; There is no title deed yet as its in the process to issue and this is the reason the price is low. Once a title deed the price will go minimum 7000 euros per square meter. There is also a yearly income of almost 200,000 euros

a) Office 101 - Total area of 517.27 square meters. Total covered Area 495 square meters (Office area 432.35 square meters / common areas 63.52 & uncovered veranda 22.40. It includes 5 parking areas)
(OFFICE RENT 9500 EUROS)

495.87 square meters x 4000 euros = Euros 1,983,480 euros

22.40 x 1200 euros = 26880 euros

5 parking x 7000 euros = 35,000

FOR SALE Grand Total 2,045,360

b) Penthouse for office area - Total area of 832.34 square meters. Total Covered Area 232.54 square meters,
( Covered area 169.70 / common areas 32.50 / covered veranda 30.34 / uncovered veranda 599.80 square meters!!!!!!!. Maybe one of the Largest Penthouse in Limassol with unobstructed views).

232.54 square meters covered area x 4000 euros = 930,160

30.34 square meters covered veranda x 2800 euros = 84952

599.80 square meters uncovered veranda x 1200 euros = 719760

FOR SALE Grand Total: 1,734,872

c) Office - Total area of 447.54 square meters. Total covered Area: 391 square meters ( Office area 252.75 / covered verandah 138.54 square meters & uncovered verandah 56 square meters - It also includes two parking places)
(OFFICE RENT 4500 Euros)

TOTAL COVERED AREA IS: 1118.54 SQUARE METERS : For sale 4000 euros per square meter on covered area (no vat) / 30% reduction on covered verandha & 70% reduction on verandas -

252.75 square meters covered area x 4000 euros per sq. meter = 1,011,000

138.54 square meters covered veranda x 2800 per square meter = 387,912

56 square meters uncovered veranda x 1200 euros per square meter = 67200

2 parking places x 7000 euros each

FOR SALE Total: 1,480,112

Total price for the three offices is 5,260,344 euros. All three offices will be sold for 5,000,000 euros

Property Details
* For Sale
* Property Type: Building
* Property Subtype: Commercial
* Location: Limassol, Limassol, Cyprus
* Price: €5,000,000
* VAT: N/A
* Date Available From: 27th May 2021
* Loan Installment: €24,508

If you wish to borrow from a bank, please find above indication of the loan installment with the assumptions used below.

Loan Installment Calculations:

Assumptions:

Closing Price: €5,000,000

Own Contribution (30%): €1,500,000

Loan Amount (70%): €3,500,000

Interest rate: 3.2%

Years of repayment: 15 years