Commercial Building in Egkomi, Nicosia
| Commercial Building | DP-CY17836
Not Subject to Vat
Not Subject to Vat
Not Subject to Vat
Description
The property is a four-storey mixed-use building with a basement and mezzanine, located in the high-demand area of Engomi, Nicosia.
The building consists of a ground floor retail shop of approximately 340 sq.m. and a mezzanine level of approximately 148 sq.m. Floors one to three each offer office spaces of approximately 310 sq.m., providing flexible commercial accommodation.
The basement extends to approximately 500 sq.m., offering ample parking spaces and auxiliary/storage areas.
Engomi is a consistently sought-after district due to its proximity to universities, embassies, and major corporate offices, ensuring strong long-term demand for both commercial and residential properties.
Regarding occupancy, the ground floor and mezzanine are currently occupied, noting that there are ongoing legal actions concerning these units.
The upper floors (1–3) are vacant and available for immediate use or leasing.
The property is held within a Special Purpose Vehicle (SPV), and the acquisition of the company shares results in no Transfer Fees and no VAT being applicable to the transaction, enhancing its overall investment attractiveness.