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Mixed-use building in Aglantzia, Nicosia

Ref No: 7947

€ 2,900,000 (-12.12%) € 3,300,000

Description

The asset is a two storey mixed-use building known as 'Wights Tower' in Aglantzia. It owns a prime location with high visibility on Limassol Avenue. It is adjacent to the Aluminium Tower and is located 1.5km from the city center.

The building has a total covered area of 1,204sqm. The ground floor consists of three retail units with a total area of 550sqm and 268sqm mezzanine. The first floor consists of an apartment of 134sqm (currently used as part of a gym) and a vacant office area of 252sqm. The building also benefits from a basement parking area.

The 3D images relate to a planning permit application that has been submitted and is subject to approval by the planning authority for a new development of ground floor commercial shops and mezzanine, plus 5 floors of office spaces of a total buildable area of 2,033sqm.

Energy Performance Classifications for the shops: Energy Class C
Energy Performance Classifications for the Gym: Energy Class D
Energy Performance Classifications for the restaurant: Energy Class D

Owner: Beretse Limited (Gordian SPV)

Main Features

Occupancy Status
Partly Occupied
Status
For sale

Other Features

Land Registry

District
Nicosia
Community
Aglantzia Municipality
Reg. No.
2/1795
Sheet/Plan
21/55W2
Parcel
1727
Zone
Εβ3

Areas

Covered Area
1,204 m2
Land area
1,236 m2
Ground floor area
550 m2
Mezzanine area
268 m2

Further Features

Year of construction
1978

Town Planning

Town planning zone
Commercial
Building density
160 %
Coverage ratio
50 %
Max floors
6
Max height
24 m

Legal disclaimer

The asset was acquired by Gordian Holdings Limited within the restructuring framework provided for in the Cyprus tax legislation, and is currently owned by a subsidiary company. Depending on whether the transfer of the asset may take place via the transfer and/or sale of the subsidiary company’s shares, VAT may be applicable. We recommend that you seek independent advice regarding any applicable property transfer fees and/or VAT. The above sale price does not include transfer fees and/or VAT and if such are applicable, these will be paid by the buyer over and above to the sale price, as applicable.

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Andreas Ioannou

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