Located in the heart of Limassol’s historic center, this commercial building was designed by one of Cyprus’ leading architects.
The modern development consists of 16 luxurious offices on six levels. Each level comprises two to four medium-sized offices, ideally suited to employed and freelance workers.
The interior features include a welcoming reception area with high ceilings, raised floors with carpet finishes in offices, central VRF conditioning, and natural marble floors in common areas.
The building is ideally suited to attract prospective clients and hold business meetings.
The exterior of the building features double-glazed windows with aluminum frames, a fireproof entrance door with an intercom system, and 35 ample parking spaces.
Each office has a spacious veranda where owners can overlook views across the city center.
The highly-sought after location of the property is only moments away from essential amenities, such as banks, business centers, schools, restaurants, cafeterias, and a famous seaside park.
The indoor areas span between 84.3 sq.m. to 117.8 sq.m, and the total indoor area is 2640 sq.m. The table below contains the full design specifications.
The whole building is available for €14,347,000.
|
Indoor Area, sq.m. |
Cov. Veranda, sq.m. |
Unc. Veranda, sq.m. |
Comm. Area, sq.m. |
Total Area, sq.m. |
Price, € | |
|
101 |
85.2 |
0 |
0 |
19.5 |
104.7 |
€ 565,000 |
|
102 |
100.6 |
0 |
0 |
23 |
123.6 |
€ 667,000 |
|
103 |
100.3 |
0 |
0 |
22.9 |
123.2 |
€ 665,000 |
|
104 |
84.3 |
0 |
0 |
19.4 |
103.7 |
€ 562,000 |
|
201 |
85.2 |
0 |
0 |
19.5 |
104.7 |
€ 591,000 |
|
202 |
100.6 |
0 |
0 |
23 |
123.6 |
€ 697,000 |
|
203 |
100.3 |
0 |
0 |
22.9 |
123.2 |
€ 696,000 |
|
204 |
84.3 |
0 |
0 |
19.4 |
103.7 |
€ 588,000 |
|
301 |
85.2 |
0 |
0 |
19.5 |
104.7 |
€ 604,000 |
|
302 |
100.6 |
11 |
0 |
23 |
134.6 |
€ 713,000 |
|
303 |
100.3 |
0 |
0 |
22.9 |
123.2 |
€ 711,000 |
|
304 |
84.3 |
0 |
0 |
19.4 |
103.7 |
€ 600,000 |
|
401 |
106.9 |
74.8 |
33.2 |
41.6 |
256.5 |
€ 1,287,000 |
|
402 |
106.7 |
74.8 |
33.2 |
41.6 |
256.3 |
€ 1,285,000 |
|
501 |
117.8 |
179.5 |
10 |
68 |
375.3 |
€ 2,059,000 |
|
502 |
117.8 |
179.5 |
10 |
68 |
375.3 |
€ 2,057,000 |
|
1560.4 |
519.6 |
86.4 |
473.6 |
2640 |
€ 14,347,000 |
INVESTMENT PROPOSAL
As the corporate capital of Cyprus, Limassol is home to thousands of international companies. More specifically, it’s the hub for the technology and financial sector.
Cyprus has been transformed into the most desirable relocation center in the Middle East and Southern Europe since introducing the low corporate tax, the zero dividend tax, the IP Box Regime, and the New Strategy for Attracting Business.
Between 2020 and 2022, more than 250 sizable international technology companies relocated to Limassol. In the same period, more than 8000 developers (freelancers and employees) relocated to the city. Proportionally to the population of Cyprus, this is the biggest migration of developers relocating to a single country in the European Union.
This trend is expected to rise for a prolonged period due to the amplification of international political issues and the introduction of new tax incentives by the Cypriot government.
Many relocated companies are now looking for new offices for their employees.
There are around 50 companies that are ineffectively located across multiple offices in different locations, looking for new headquarters in one building to accommodate all employees. These high-income employees require a higher standard of working conditions.
New Class A commercial properties in the center of Limassol are in short supply. Class A commercial property prices have been increasing by 10% every year in the last four years.
The average selling price of Class A offices is €6,200 per sq.m. The co-financing of this project will enable Amazon Investments to complete it at the cost of €5,400 per sq.m.
The project can also be used as a rental business with an expected average net return of 6.5%. Capital appraisal is expected to produce an IRR of 17%.
