Office Space in Strovolos, Nicosia
| Office | DP-CY18373
Description
The property is an executive 740 sq.m. office space located in a strategic and highly visible position in Agios Dimitrios, Strovolos, Nicosia, offering an excellent investment opportunity within one of the city's most established commercial areas.
The office occupies the first floor of a commercial building and features 740 sq.m. of internal space, complemented by 1 sq.m. of covered veranda and 96 sq.m. of uncovered verandas. The property also benefits from six dedicated parking spaces, providing convenience for employees and visitors.
The workspace is professionally designed and includes a reception area, conference room, multiple private offices, a fully equipped kitchenette, toilet facilities, and both covered and uncovered outdoor areas, creating a functional and modern business environment.
The property generates a current rental yield of 4% and is secured with an existing lease agreement until 26/03/2028, with an option for renewal for an additional two years until 26/03/2030, offering an increased rental yield of 6% at a fixed pre-agreed rate. Any further renewals after 26/03/2030 will include a 7% rental increase.
Ideally positioned with direct frontage onto Athalassas Avenue, the property is located approximately 30 metres northwest of the Acropolis Fire Station and approximately 100 metres northwest of the EOA premises, offering excellent visibility, accessibility, and proximity to major business hubs.
A separate title deed is available for the property.