If you wish to borrow from a bank, please find above indication of the loan installment with the assumptions used below.
Loan Installment Calculations:
Closing Price: €550,000
Own Contribution (30%): €165,000
Loan Amount (70%): €385,000
Interest rate: 3.2%
Years of repayment: 15 years
This modern styled 172 sqm office is located on the third floor of a Nine-storey building. The office consists of a reception, open plan offices, a meeting room, two separate offices, a manager’s office, one toilet, a kitchen and a server room. The office has raised floors with embedded cabling, floors of synthetic parquet and double glazed windows in aluminium frames. The internal partitions are made of glass for increased natural lighting. The office is offered with 4 privately owned and dedicated parking spaces on the underground level, as well as two storage units with areas of 8 sqm and 5 sqm, also on the underground level.
The office is currently rented until September 2023, with a planned rental increase in September of 2022. The rental yield on the existing rent is 5.2%, and the office is registered under an SPV which can be transferred to the buyer without the need to pay any transfer fees, making this a unique opportunity for investment.
The office is located in a landmark high quality office building called Nikis Center, on the corner of 2 main commercial streets, namely Nikis Avenue and Kyriakou Matsi Avenue, in the heart of the business centre of Nicosia. On the ground floor you can find a multitude of commercial stores while the floors above are office units.
This 9 floor building has access from three streets and is visible from a distance due to its height.