Commercial Building in Katholiki, Limassol

This large corner plot is on the sought after commercial road of Makarios Avenue. The area is becoming very upgraded with Banks and office buildings, offering easy access to the highway and the beach road.
The building can either be renovated or demolished, allowing new commercial office tower to be built (exempt from VAT).
There are special allowances given today on the commercial road of Makarios which can allow up to 18 floors.
180% building density, 50% coefficient.

Property Details
* For Sale
* Property Type: Building
* Property Subtype: Commercial
* Location: Limassol, Katholiki, Cyprus
* Internal Area: 1000sqm
* Price: €2,300,000
* VAT: N/A
* Date Available From: 17th February 2021
* Loan Installment: €11,274

If you wish to borrow from a bank, please find above indication of the loan installment with the assumptions used below.

Loan Installment Calculations:

Assumptions:

Closing Price: €2,300,000

Own Contribution (30%): €690,000

Loan Amount (70%): €1,610,000

Interest rate: 3.2%

Years of repayment: 15 years