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Commercial Building in City Center, Nicosia
5804, Cyprus
REF: 643086
€10,500,000
Description
Reference ID: #20720Price details: 10,500,000This asset is a commercial center in within the walls Nicosia. The asset comprises of: -A common area of c. 450sqm -Shop 1 of 185sqm and a 63sqm mezzanine -Shop 2 of 177sqm and a 23sqm mezzanine -Shop 3 of 312sqm and a 145sqm mezzanine -Shop 4 of 115sqm -Shop 5 of 75sqm and a 44sqm mezzanine -The three level underground parking with 154 parking spaces of c. 4,500sqm The asset also benefits from an unused building density of c. 2.500sqm. The immediate area of the property comprises of listed buildings of residential and commercial use and is considered to be the traditional commercial centre of Nicosia , one of the main commercial streets of Nicosia with numerous restaurants and shops, which attract a high amount of traffic from both tourists and locals. The asset is partially occupied. The asset falls within two planning zones: -??? with building density coefficient of 180%, coverage coefficient 70%, in 3 floors and a maximum height of 11,5m. -?? with building density coefficient of 160%, coverage coefficient 70%, in 3 floors and a maximum height of 11,5m.
Reference ID: #20720Price details: 10,500,000This asset is a commercial center in within the walls Nicosia. The asset comprises of: -A common area of c. 450sqm -Shop 1 of 185sqm and a 63sqm mezzanine -Shop 2 of 177sqm and a 23sqm mezzanine -Shop 3 of 312sqm and a 145sqm mezzanine -Shop 4 of 115sqm -Shop 5 of 75sqm and a 44sqm mezzanine -The three level underground parking with 154 parking spaces of c. 4,500sqm The asset also benefits from an unused building density of c. 2.500sqm. The immediate area of the property comprises of listed buildings of residential and commercial use and is considered to be the traditional commercial centre of Nicosia , one of the main commercial streets of Nicosia with numerous restaurants and shops, which attract a high amount of traffic from both tourists and locals. The asset is partially occupied. The asset falls within two planning zones: -??? with building density coefficient of 180%, coverage coefficient 70%, in 3 floors and a maximum height of 11,5m. -?? with building density coefficient of 160%, coverage coefficient 70%, in 3 floors and a maximum height of 11,5m.
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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 €10,500,000 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 |
|---|---|---|---|
| €10,500,000 | £8,697,255 | £9,024,225 | £326,970 |
| Property Price € | €10,500,000 |
| Minimum cost in the last six months | £8,697,255 |
| Maximum cost in the last six months | £9,024,225 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £326,970 |
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 €10,500,000 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 |
|---|---|---|---|
| €10,500,000 | £8,697,255 | £9,024,225 | £326,970 |
| Property Price € | €10,500,000 |
| Minimum cost in the last six months | £8,697,255 |
| Maximum cost in the last six months | £9,024,225 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £326,970 |
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 £326,970 more.
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