Reference ID: #SA29228
Price details: €23,000,000
Offices for sale in a contemporary commercial building complex located in an attractive and dynamic location in Neapolis Quarter in Limassol Municipality.
The complex is next to one of the city center’s landmark junctions - Agios Nikolaos roundabout, an area which comprises of modern office blocks and important public buildings.
Premises situated on 6-floors
Total area: 4,200 sq.m
Underground parking: 65 spaces
Sea view from upper floors
The building is equipped with:
Ventilation systems
Conditioning system
Three stages of power outage protection (UPS, small and large generator)
Access Control System
Video Surveillance System
Alarm system
Fire safety system
The rent is 126,000 € per month
Based on 4,200 m2 building at 30€ / sq.m
126,000 € / month x 12 months = 1,512,000 - 30,000 expenses = 1,482,000 €
1,482,000 € / 23,000,000 € x 100% = 6.44% interest.
The estimated value of the building has grown by 2-3% every year for the last five years (when there was no inflation) - now the growth is much faster.
6.44% + 2 - 3% = 8.44 - 9.44% interest per year.
With proper tax planning, the tax is 4.2% of profit (8.44 - 9.44 x 0.958 = 8.1 - 9.04% NET INTEREST)
