Mixed Use Building

Chrysopolitisa, Larnaca

Key Characteristics

Use

Plot Size

Size

Annual Rental Income

Estimated achievable yield

Asking Price

: Office & Retail

: 1145 sq.m.

: 2150 sq.m.

: 171.600 Euros

: 3,81%

: 4.500.000 Euros

Details

The property has a total surface of 12.000 m² and consists of two underground floors, ground floor and two floors above ground. The building features 2 uses and specifically: Office areas and an industrial area (currently occupied by printing machinery) along with 80 parking spaces. The cost of relocation for the tenant is very high due to its tailor made use and the general reluctant for relocation of such public authorities so it is considered very unlikely for the tenant to relocate. The building is fully leased to a Public Authority  and the  leasing period is fixed for 12 + 3 years, ending in 2022 with an option of a 3 year renewal. Annual rental income is at the level of 651.600 Euros and the annual adjustment is CPI.

Notes

  • New lease agreement 06/2016
  • Strong Tenant
  • Location

Location

The building is located in the north west suburbs of Athens close to Athinon Lamias National Road.

Mixed Use Building – Chrysopolitissa, Larnaca