Mixed-Use Six-Storey Building in Strovolos, Nicosia
| Mixed Use | DP-CY18733
Description
The property is a six-storey mixed-use commercial building situated on Athalassas Avenue in Strovolos, Nicosia. Constructed approximately in 2002, the building occupies a registered plot of 794sq.m., with approximately 58m of road frontage. The property offers a total covered area of approximately 2,150sq.m., in addition to a basement area of approximately 1,290sq.m. It also benefits from an elevator and two basement parking levels with capacity for 35 vehicles.
The ground floor, measuring approximately 450sq.m., and the mezzanine, measuring approximately 220sq.m., are currently utilised as a bank branch. These areas comprise ten offices arranged around an open-plan reception and office area, a dedicated storage room, two toilets and a kitchen.
The first, second and third floors each offer approximately 360sq.m. and comprise ten offices, open-plan office space, a server room, a kitchen, a dining area and two toilets. The fourth floor, also measuring approximately 360sq.m., features nine offices, a conference room, open-plan office space, a server room, a kitchen, a dining area and two toilets. The fifth floor offers approximately 260sq.m. and comprises five offices, a conference room, open-plan office space, a server room, a kitchen, a dining area and two toilets.
The building is currently fully occupied by Eurobank. However, the upper floors are expected to be vacated, while the ground floor and mezzanine are intended to remain leased to ERB. The proposed monthly rent for these areas is €9,500, in line with the latest market rental benchmarks. It should be noted that no formal lease agreement is currently in place.
The property occupies a strategic position along Athalassas Avenue on its southern boundary and Michael Giorgalla Street on its western boundary. It is located approximately 330m west of Limassol Avenue, 450m southwest of Strovolou Avenue and 515m southeast of CYTA Headquarters, providing convenient access to key commercial areas of Nicosia.
A separate title deed is available for the property.