Building in Engomi, Nicosia for sale

Building complex in a very good location in Egkomi Municipality in Nicosia District.

The property is ideally situated close to a plethora of amenities and services such as cafes, restaurants, shops supermarket etc. 

The ground floor consists of a reception, offices, storage space and w/c.

The 1st, 2nd and 3rd floor consist of office spaces. The entire building is serviced by air conditioning system, fire protection system, ventilation system, alarm system, lift and emergency exits

PROPERTY CHARACTERISTICS

• Ground Floor: 675m2
• First floor: 675m2
• Second floor: 675m2
• Third floor: 450m2
• Plot size: 1,459m2
• Year of construction: 1976
• Year of renovation: 2008

There is a proposed plan for licensing for this plot for 100 dorm rooms.

Rental income is €500 per room per month amounting to €50K per month - €600K per annum.

ROI 11,5%

Asking price for the existing building is €2.7M

Expecting building costs of the dorms is €2.5M

It is considered as an ideal investment opportunity.