Description
RENTED INDUSTRIAL UNITS - INCOME PRODUCING ASSET WITH A RETURN OF ABOUT 7% - REGISTERED ON AN SPV.
This is a prefabricated concrete products industrial unit, erected within a leasehold government land and located in the 3rd industrial zone of Ypsonas Municipality Limassol. As a result, factories, industrial warehouses and buildings are located within the immediate area. The building comprises of a production area and a storage area. An administrative space comprising of an office with an en-suite toilet, a small kitchen, two toilets and a warehouse area.
The property comprises of 3 buildings, erected during years 2006-2007, with a total area of 2.200 sq.m. The buildings are designed with steel frame structure and brick walls externally. The government leasehold lasts for 33 years, starting from 1/9/2006 and expiring on 31/08/2039. The current lease amount is EUR 23.003,99 per year, and the leaseholder can extend the agreement for additional 33-years periods i.e. Yr.2105
The asset is located approximately 7.9km from Limassol General Hospital, approximately 15km from Limassol city centre and approximately 4.5km from A6 motorway.
The property falls within Zone Eβ3, with a building coefficient of 80%, coverage of 60%, and permission for 2 floors (0m) of construction.
The property is subject to a partial vat treatment which the land value will be subject to 19% vat and the rest of the sale price will be subject to transfer fees
GPS Coordinates: 34.7213788 32.8748909
