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Commercial Building in Kaimakli, Nicosia
5704, Cyprus
REF: 642495
€3,350,000
Description
Reference ID: #SA27101Price details: 3,350,000A three storey building formerly occupied by a supermarket, which has been erected on three adjacent plots. The property is located in Kaimakli in Nicosia.The supermarket, on the ground floor, is of total area of 2.115 sqm and consists of a main store with cashier points, a fruit market, a bakery, a meat/fish market and refrigerators. The mezzanine has a total area of 900 sqm and comprises of office rooms, kitchen and toilets.There is also a basement with a total area of 1.575 sqm which is used as parking place.It is noted that the building has been erected on the on two of the plots, whereas the third plot is used as a parking.The property falls within the following two Planning Zones: Industrial zone ?a1/??1 with a maximum building density coefficient of 160% and a land coverage coefficient of 50% over 4 floors. Special Area zone ??6 with a maximum building density coefficient of 160% and a land coverage coefficient of 50% over 2 floors.The local area around the property is highly developed with residential and commercial units such as offices, showrooms, apartments and houses. The asset enjoys good accessibility to the Nicosia city centre and the surrounding areas.Total Land Area: 6.159 sqm.
Reference ID: #SA27101Price details: 3,350,000A three storey building formerly occupied by a supermarket, which has been erected on three adjacent plots. The property is located in Kaimakli in Nicosia.The supermarket, on the ground floor, is of total area of 2.115 sqm and consists of a main store with cashier points, a fruit market, a bakery, a meat/fish market and refrigerators. The mezzanine has a total area of 900 sqm and comprises of office rooms, kitchen and toilets.There is also a basement with a total area of 1.575 sqm which is used as parking place.It is noted that the building has been erected on the on two of the plots, whereas the third plot is used as a parking.The property falls within the following two Planning Zones: Industrial zone ?a1/??1 with a maximum building density coefficient of 160% and a land coverage coefficient of 50% over 4 floors. Special Area zone ??6 with a maximum building density coefficient of 160% and a land coverage coefficient of 50% over 2 floors.The local area around the property is highly developed with residential and commercial units such as offices, showrooms, apartments and houses. The asset enjoys good accessibility to the Nicosia city centre and the surrounding areas.Total Land Area: 6.159 sqm.
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Currency Exchange
5704, Cyprus
Interested in this property? Don't lose out to currency fluctuations changing the price you pay...
Many overseas buyers in Cyprus do not realise they can lose thousands of pounds through adverse currency exchange rate movements.
The property buying process in Cyprus takes time; it could be up to six months between seeing the property of your dreams and actually taking ownership. So how much would this €3,350,000 property cost you?
| Property Price € | Minimum cost in the last six months | Maximum cost in the last six months | Fluctuating exchange rates over the last six months could have increased the cost of this property by |
|---|---|---|---|
| €3,350,000 | £2,774,839 | £2,879,158 | £104,319 |
| Property Price € | €3,350,000 |
| Minimum cost in the last six months | £2,774,839 |
| Maximum cost in the last six months | £2,879,158 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £104,319 |
5704, Cyprus
Interested in this property? Don't lose out to currency fluctuations changing the price you pay...
Many overseas buyers in Cyprus do not realise they can lose thousands of pounds through adverse currency exchange rate movements.
The property buying process in Cyprus takes time; it could be up to six months between seeing the property of your dreams and actually taking ownership. So how much would this €3,350,000 property cost you?
| Property Price € | Minimum cost in the last six months | Maximum cost in the last six months | Fluctuating exchange rates over the last six months could have increased the cost of this property by |
|---|---|---|---|
| €3,350,000 | £2,774,839 | £2,879,158 | £104,319 |
| Property Price € | €3,350,000 |
| Minimum cost in the last six months | £2,774,839 |
| Maximum cost in the last six months | £2,879,158 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £104,319 |
The exchange rate on the day you make an offer on your property in Cyprus will not be the same as the rate you pay when you complete on your purchase, as currency markets move constantly. Any large rate movements may take it beyond your price range as the chart above illustrates the fluctuation and how much extra your property could have cost you.
The best way to avoid this significant risk is to plan your budget and currency strategy with an experienced currency specialist. They have been known to save you up to 4% compared to many high street banks, £4,000 for every £100,000, which soon adds up. They will also keep you up to date on market movements, help you set a rate in advance with a product called a Forward Contract - so you know exactly what you will pay for your property in sterling.
This is why we recommend Smart Currency Exchange Ltd. If exchange rate movements continue to be as unpredictable and as significant as they have been in the past then by not using Smart Currency Exchange Ltd your property could cost you £104,319 more.
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