A commercial project. The building features 800sqm. of covered area plus c. 80 sqm. of roof top space. 

The building has been leased in its entirety for 15,000EUR monthly (or 180,000EUR per annum) for a period of 5 years (primary period) and the tenant has the option to renew the tenancy for an additional period of 5 years. Rent increases by 2.5% annually, hence year two monthly rent is 15,375EUR (184,500EUR p.a), year three - 15,760EUR (189,120EUR p.a), year four – 16,150EUR (193,800EUR p.a) and year five – 16,560EUR (198,720EUR p.a). Total rent received in the first five years 946,140EUR.  

The tenant is a triple A Russian online gaming company with offices in Russia and Limassol, employing in excess of 250 employees. Payments are made every 4 months in advance and the owner holds a two-month deposit guarantee. 

The asking price for the property  which represents a 6.4% rental yield (on year 1). The property is owned by an SPV, therefore the buyer will NOT bear any VAT nor transfer fees, as the buyer can acquire the shares of the company.