A GREAT COMMERCIAL INVESTMENT OPPORTUNITY IN LIMASSOL CYPRUS

Limassol,

€2,800,000

 |  MLS # 594

Property Information

The Offer:

  • A truly spectacular Office Building under construction in one of the most commercial streets in Limassol Cyprus that will provide a steady rental income from day one!

 

The Building:

  • A 5 floor contemporary design building in Limassol Centre that features 800m2 of covered area plus 80m2 of roof terrace.

 

The Investment:

  • The building has been leased in its entirety for EUR 15,000 monthly (or 180,000 per annum) with annual rent increases as seen below:
  • Rental period 5 years (primary period) starting April 2022. Tenant has the option to renew the tenancy for an additional 5 years

 

Rent increases by 2.5% annually hence:

Year one monthly rent is 15,000 (€180,000 annually)

Year two monthly rent is 15,375 (€184,500 annually)

Year three monthly rent is 15,760 (€189,120 annually)

Year four monthly rent is 16,150 (€193,800 annually)

Year five monthly rent is 16,560 (€198,720 annually)

Total rent income received in the first five years: 946,140!

 

The tenant is a triple A reputable Russian online gaming company with offices in Russia and Limassol, employing in excess of 250 employees.

Rental Payments are made every 4 months in advance and the owner holds a two-month deposit guarantee. 

The asking price for the property is 2,800,000 which represents a 6.4% rental yield (on year 1)

The property is owned by an SPV Company, therefore the buyer will NOT bear any Vat Nor transfer fees, as the buyer can acquire the shares of the company.

Construction has commenced and completion is set for April 2022.

For more information and viewing arrangements call with no obligation 7 days a week or email us anytime.

Tel: + (357) 99 66 66 88 English

Tel: + (357) 99 86 23 12 Russian

Viber & WhatsApp Calls accepted

Price: 2,800,000

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