Prime Mixed-Use Six-Storey Building in Strovolos, Nicosia

Key facts

About this property

An excellent investment opportunity in a mixed-use commercial building, ideally situated in the high-demand commercial hub of Athalassas Avenue, Strovolos, in Nicosia center. The property consists of a prominent six-storey building constructed approximately in 2002, positioned within a registered plot with a total area of 794sq.m. Property Highlights: • Total Plot Size: 794sq.m. • Road Frontage: 58m • Total Covered Area: 2.150sq.m. • Basement: 1.290sq.m. • Elevator • Parking Capacity: Two (2) basement levels providing parking spaces for thirty-five (35) vehicles. • Tenancy Status: Building is currently fully occupied by Eurobank, but all floors will be vacated except the GF and Mezzanine, which will be rented by ERB. It should be noted that there is currently no formal lease agreement in place. The proposed rental amount for the ground floor and mezzanine area (ERB branch) is €9,500 per month, in line with the latest market rent benchmarks. Building Layout: • Ground Floor (450sq.m.) & Mezzanine (220sq.m.): Utilized as an active bank branch, featuring ten (10) offices arranged across an open-plan reception and office area, a dedicated storage room, two (2) toilets, and a kitchen. • 1st, 2nd, and 3rd Floors (360 sq.m. each): Each floor comprises ten (10) offices, open-plan office space, a server room, a kitchen, a dining area, and two (2) toilets. • 4th Floor (360sq.m.): Comprises nine (9) offices, a professional conference room, open-plan office space, a server room, a kitchen, a dining area, and two (2) toilets. • 5th Floor (260sq.m.): Comprises five (5) offices, a conference room, open-plan office space, a server room, a kitchen, a dining area, and two (2) toilets. Location: Strategically positioned in a prime city corridor, the property abuts Athalassas Avenue along its southern boundary and Michael Giorgalla Street along its western boundary. • Approximately 330m west of Limassol Avenue • Approximately 450m southwest of Strovolou Avenue • Approximately 515m southeast of the CYTA Headquarters. There is a separate title deed for this property. Pending issuance of Energy Performance Certificate.