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Commercial Warehouse in Strovolos, Nicosia
5709, Cyprus
REF: 731087
€2,900,000
Description
Reference ID: #SA27093Price details: 2,900,000Development opportunity in a vacant property on a well proportioned site extending to about 10.638 sq.m. (105m wide x 110m depth).The asset is surrounded by mainly large commercial and industrial units and is within close proximity to the Mall of Cyprus, the Nicosia general hospital and the main motorway.The industrial building within the land is two-storey high and is situated on the northern boundary of the parcel.The basement of approximately 550 sq.m. consists of a reception area, 2 storage rooms, a dining room and toilets.The ground floor of approximately 1,700 sq.m. consists of 2 office spaces, a small kitchen, storage spaces, a freezer room, an open-plan space and an electrical substation.The 1st floor of approximately 295 sq.m. consists of 3 office spaces, toilets, a room and covered verandas.The property is subject to a compulsory purchase order where the file is in the 'Initial Stage' for approximately 2.318 sq.m., resulting in a total net area of approximately 7.360 sq.m.These deductions refer to about 800 sq.m. for public green space, 160 sq.m. for public pedestrian pathway and an additional area for the construction of a secondary road which will serve the development.
Reference ID: #SA27093Price details: 2,900,000Development opportunity in a vacant property on a well proportioned site extending to about 10.638 sq.m. (105m wide x 110m depth).The asset is surrounded by mainly large commercial and industrial units and is within close proximity to the Mall of Cyprus, the Nicosia general hospital and the main motorway.The industrial building within the land is two-storey high and is situated on the northern boundary of the parcel.The basement of approximately 550 sq.m. consists of a reception area, 2 storage rooms, a dining room and toilets.The ground floor of approximately 1,700 sq.m. consists of 2 office spaces, a small kitchen, storage spaces, a freezer room, an open-plan space and an electrical substation.The 1st floor of approximately 295 sq.m. consists of 3 office spaces, toilets, a room and covered verandas.The property is subject to a compulsory purchase order where the file is in the 'Initial Stage' for approximately 2.318 sq.m., resulting in a total net area of approximately 7.360 sq.m.These deductions refer to about 800 sq.m. for public green space, 160 sq.m. for public pedestrian pathway and an additional area for the construction of a secondary road which will serve the development.
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Currency Exchange
5709, 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 €2,900,000 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 |
|---|---|---|---|
| €2,900,000 | £2,402,099 | £2,492,405 | £90,306 |
| Property Price € | €2,900,000 |
| Minimum cost in the last six months | £2,402,099 |
| Maximum cost in the last six months | £2,492,405 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £90,306 |
5709, 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 €2,900,000 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 |
|---|---|---|---|
| €2,900,000 | £2,402,099 | £2,492,405 | £90,306 |
| Property Price € | €2,900,000 |
| Minimum cost in the last six months | £2,402,099 |
| Maximum cost in the last six months | £2,492,405 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £90,306 |
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 £90,306 more.
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