Building for sale in Ypsonas, Limassol

Sale of an rented industrial unit, erected within a leasehold government land and located in the 3rd industrial zone of Ypsonas Limassol. 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 2200 m2. 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 23003,99 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 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. Rented with a return 7%.