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Commercial Building in City Center, Nicosia
5804, Cyprus
REF: 642506
€6,000,000
Description
Reference ID: #SA27088Price details: 6,000,000A six storey commercial building with a total area of 3.245 sqm (plus 1.370 sqm basement) located in a central location in Nicosia.The building consists of two levels of basement car parking (1,370 sqm), a ground floor (530 sqm), a mezzanine (465 sqm), and five floors above (2,250 sqm).The total land area is 1.324 sqm. The ground floor consists of a reception area, offices and showroom, the mezzanine, the 1st, the 2nd and the 3rd floor consist of an open plan showroom and the 4th and 5th floors consist of offices. It is noted that on the terrace, a metallic construction has been erected which consists of a conference room and a library. The two basements of the building are uses as a showroom.The property falls within the commercial planning zone ?a3 with a maximum building density coefficient of 200% and a land coverage coefficient of 40% over 10 floors and 38 metres height.The Avenue is established as one of the busiest streets in Nicosia with a mixture residential and commercial properties. Most local buildings consist of shops, restaurants and showrooms on the ground floor and offices or apartments on the upper floors. The property enjoys easy access to the wider city of Nicosia and the surrounding areas. The asset is currently occupied.
Reference ID: #SA27088Price details: 6,000,000A six storey commercial building with a total area of 3.245 sqm (plus 1.370 sqm basement) located in a central location in Nicosia.The building consists of two levels of basement car parking (1,370 sqm), a ground floor (530 sqm), a mezzanine (465 sqm), and five floors above (2,250 sqm).The total land area is 1.324 sqm. The ground floor consists of a reception area, offices and showroom, the mezzanine, the 1st, the 2nd and the 3rd floor consist of an open plan showroom and the 4th and 5th floors consist of offices. It is noted that on the terrace, a metallic construction has been erected which consists of a conference room and a library. The two basements of the building are uses as a showroom.The property falls within the commercial planning zone ?a3 with a maximum building density coefficient of 200% and a land coverage coefficient of 40% over 10 floors and 38 metres height.The Avenue is established as one of the busiest streets in Nicosia with a mixture residential and commercial properties. Most local buildings consist of shops, restaurants and showrooms on the ground floor and offices or apartments on the upper floors. The property enjoys easy access to the wider city of Nicosia and the surrounding areas. The asset is currently occupied.
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Currency Exchange
5804, 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 €6,000,000 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 |
|---|---|---|---|
| €6,000,000 | £4,991,280 | £5,163,720 | £172,440 |
| Property Price € | €6,000,000 |
| Minimum cost in the last six months | £4,991,280 |
| Maximum cost in the last six months | £5,163,720 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £172,440 |
5804, 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 €6,000,000 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 |
|---|---|---|---|
| €6,000,000 | £4,991,280 | £5,163,720 | £172,440 |
| Property Price € | €6,000,000 |
| Minimum cost in the last six months | £4,991,280 |
| Maximum cost in the last six months | £5,163,720 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £172,440 |
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 £172,440 more.
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