The asset relates to a two storey commercial warehouse currently rented and operated as a recording studio, is located in Panagia Evangelistria, Dimos Idaliou, Nicosia.
The ground floor of about 311 sq.m. consists of a reception area, a recording/control studio area, an engine room, orchestra & performance room, office area, server room, kitchen and toilets.
The first floor of about 212 sq.m. is accessed via an external metal staircase and it consists of six offices, a conference room, a server room, a kitchen. toilets and a storage area. Additionally there is a provision for elevator.
The property is currently rented until 31/01/2024 with a rental yield of 5.2% (€29.172 annually) and from 01/02/2024 until 31/01/2027 with a rental yield of 5.5% (€30.636 annually)
The asset is located in Dali Industrial Area, approximately 1km to the motorway. The immediate area consists of industrial warehouses, workshops, factories and storage facilities.
The property falls within Zone Bα3, with a building coefficient of 100%, coverage of 60%, and permission for 2 floors (-m) of construction.