Description
A 1,300sq.m. leasehold industrial unit situated in the Timi Government Industrial Area (Category B), Paphos, offering excellent connectivity to the Paphos–Limassol Motorway and close proximity to Paphos International Airport. Property Highlights: • Land Area: 5,324sq.m. • Internal Area: 1,300sq.m. • Mezzanine Area: 80sq.m. • Incomplete Auxiliary Building: Two-storey structure of 190sq.m. • Development Potential: Approx. 3,250sq.m. of unused building density and 1,100 sq.m. of unused site coverage • Road Frontage: Approx. 48m Internal Layout: • The warehouse comprises a large open-plan industrial floor/factory area • The mezzanine comprises of office and storage spaces • The incomplete two-storey auxiliary structure was developed for office spaces Land Lease Terms: The warehouse is under a Government Sub-Lease Agreement until 31/08/2030 with an annual ground rent €18,683.65. Subject to eligibility under the de minimis scheme, the purchaser may qualify for a 40% reduction in the annual ground rent. The lease terms are as follows: • 1st Period (Current): 01/09/2008 – 31/08/2041 • 2nd Period: 01/09/2041 – 31/08/2074 • 3rd Period: 01/09/2074 – 31/08/2107 Location: Strategically located within the Government Industrial Area (Category B) in Timi. • Approximately 300m northeast of the Paphos–Limassol Motorway • Approximately 1.4km north of Timi village square • Approximately 4km northeast of Paphos International Airport Pending issuance of Energy Performance Certificate.
