About this property
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.
