Description

This asset is a sizable leasehold industrial warehouse in the Ergates industrial area, Nicosia.

The asset is located c. 530m south of Nicosia - Palaichori road and c. 1.6km northwest of Ergates village center.

The asset has an area of c. 4,800sqm. The building has a steel frame and concrete floors except for the office areas that have ceramic floors. It is divided into two identical volumes. The northeast section is used exclusively for storage while the south-west section is used for storage and houses the supporting areas (toilets, kitchen/dining areas, changing rooms, server rooms and offices). The roof of the supporting areas is used as a mezzanine storage space.

The asset is currently occupied but will be vacant soon.

The immediate area of the property is a well-developed industrial area with easy access towards Nicosia.

The asset falls within industrial planning zone B1, with building density coefficient of 90%, coverage coefficient 50% and 2 floors.

Lease expires 31/03/2037. Renewal option for another 66 years.

Owner: Tolmeco Properties Limited

Reg. No.: 0/1476, 0/1477, 0/1478, 0/1479, 0/1480, 0/1481

Important note: The property is currently in tender process. Interested parties are welcome to submit their bids at the latest by 19/06/2020.

All urban features must be checked with the proper authorities. The Bank has the right to review the selling prices without any prior notice.

Additional Details

District Nicosia
Area/Village Ergates
Type Warehouse
Vat Vat not Applicable
Title deed Yes

Location

Tender Form

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