Factory - Tseri, Nicosia
Not subject to VAT
The property for sale in an industrial building located in Tseri industrial area in the District of Nicosia. It is located at a distance of approximately 1,2km north of Tefkrou Anthia street (commonly known as ‘Chalepianes’). It is also situated approximately 900 meters east of the Tseri Beltway and approximately 2km west of the Nicosia-Limassol motorway (A1).
The majority of the industrial area falls within the industrial planning zone Βγ2 (Industrial Zone – Category ‘Α’) which primarily comprises of heavy industry. The eastern part of the industrial area falls within planning zones Βα4 (Industrial Zone – Category ‘B’) and Βδ5 (Βιοτεχνική – Light industry/workshops).
The factory was constructed around 2009 and had secured the necessary Building Permit as a factory/carpentry. The building comprises of a large factory space and loading bays on the ground floor, with ancillary areas including office spaces, kitchen and WCs. The ancillary areas expand over two levels and access can be gained to the 1st floor via an internal staircase.
The area of the industrial space is 886 sq.m (approx.), the offices 220 sq.m (approx.) and the mezzanine 442 sq.m (approx.) .
It is rented with a monthly rent of €2500/month and a yield of 4%.
In addition to the above, it is important to note that the property will be in very close proximity to Nicosia’s new ring road, with Phase 1 of the project linking this industrial area directly to the Nicosia – Limassol motorway and the nearby industrial area of Dali. The Department of Public Works has announced that is has secured the funding for this as part of the Trans-European Transport Network (TEN-T) and the Central Network of Cyprus and Orient-East Med Corridor, whilst contracts for the works were signed in February 2020.
The Terms and Conditions found on the Tender form must be carefully considered prior to submitting an Offer.
Any photographs, markings, outlines, or other design on the photographs are indicative and for illustration purposes only.
All planning particulars or other features of the property must be checked with the relevant authorities. Altamira Asset Management Cyprus Ltd is not bound to accept the highest or any other offer submitted.
The above price may be modified without any prior notice.
All information received from Altamira Asset Management Cyprus Ltd (through the website and / or its operators and / or otherwise) is indicative and no guarantee is given for its completeness and / or validity.
The Tenderer is exclusively responsible for conducting an inspection of the Property and to take all actions necessary to verify and / or be satisfied on the accuracy of the details of the Property (including planning particulars, boundaries a.o), and in addition to ascertain whether the sale of the Property is subject to VAT and the exact amount payable. In case of disagreement, it is the sole responsibility of the Tenderer to provide relevant evidence to satisfy Altamira Real Estate.
The property is rented
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