The 10 most expensive commercial real estate included in the portfolio of the Real Estate Management Unit of Bank of Cyprus, also known as REMU, is presented by InBusinessNews. The list includes office buildings, industrial facilities, and warehouses, a former shopping mall as well as an underground car park with a shopping mall. Properties are presented based on their value, starting with the most expensive.
There are the following options:
First on the REMU list is the former ORFANIDIS commercial building in Strovolos with an estimated sale price of € 34 million. This is a three-storey commercial building with a total area of 59,437 m2 with 1 126 parking spaces and the total area of the plot of land where it has been built amounts to 43,138 m2.
2 place - Ledra Arcade
The second most valuable commercial property in REMU's portfolio is the well-known parking lot and the "Ledra Arcade" gallery on Ledras Street in the heart of Nicosia, an asset that previously belonged to the Group of Companies. This commercial space is for sale for € 10.5 million and includes underground parking on three levels, with a capacity of 154 cars, five stores with a total area of 1139 m2, as well as the common areas inside the gallery. This property was also given to Bank of Cyprus in the framework of the policy of leakage of the Shacola Group of Companies, a strategy which the Group adopted due to its efforts to reduce its high borrowing and increase liquidity levels.
3 place - Industrial property in Dali
For € 8.8 million, industrial property of 52,560 m2 is for sale, which includes four buildings. The property is located in the industrial area of Dali and has access to the main roads of the area (next to Tefkrou Anthia Street and at a distance of 500 meters from the Nicosia-Limassol highway).
4 place - Industrial warehouse in Dali
In the same area in Dali is the fourth most commercial property of REMU, which is for sale for € 8 680 000. It is an industrial warehouse, located opposite the JCC facility and 700 meters east of the Nicosia-Limassol highway. The property, with a total area of 7,867 sq.m., extends to six plots and consists of offices with auxiliary spaces of 1 623 m2. and storage space with cold rooms of 6,244 m2. The building is in very good physical condition. The warehouse also has 9 electric doors/handling/loading platforms and 28 parking spaces.
5 place - Commercial property in the heart of Nicosia
For € 6.7 million, the property is for sale in the center of Nicosia, very close to Stasikratous, Spyrou Kyprianou, and Evagorou Avenues. It is a plot of land, on which there is an old commercial building of 6 floors and a small ground-floor house. The property has a facade along Prometheus Street. According to REMU, this property, which is located very close to the city within the walls and in public facilities (ie restaurant, cafes, shops), can be used for the construction of a multi-story building. It is worth noting that there is a demolition permit with an expiration date of 12/09/2020.
6 place - Well-known building on Spyros Kyprianou
Bank of Cyprus sells a six-story commercial building on Spyros Kyprianou Avenue in Nicosia for € 6 million. This property, with a total area of 3 245 m2 (plus 1 370 m2 Basement), consists of two levels of underground car parking (1 370 m2), a ground floor (530 m2), a loft (465 m2), and five floors above (2,250 m2) ). The ground floor consists of a reception area, offices and exhibition space, the mezzanine, the 1st, 2nd, and 3rd floor consist of single exhibition space and the 4th and 5th floor consist of offices. It is noted that a metal structure has been erected on the veranda, which consists of a meeting room and a library. The two basements of the building are used as an exhibition space.
7 place - Food processing, storage, and distribution center
At a price of € 5.7 million, a food processing, storage, and distribution center is for sale in the industrial area of the island in Nicosia. The property is located next to Limassol Avenue, east of the Nicosia - Limassol highway.
It consists of the following areas:
- Administration building (270 m2) with reception area, offices, meeting room, server room, storage space, and sanitary facilities.
- Production area (2,120 m2) with three loading areas, office/archive, control room, order preparation area, refrigerators for vegetables, meat, fish, storage of packaging materials, sterilization area, staff cafeteria, toilets and changing rooms.
- Basement (970 m2) with parking spaces and additional storage spaces
8 place - Commercial property in Latsia
REMU is selling a large industrial production unit and warehouse in Latsia for € 5 255 000. This property is located next to Papaflessa Street and Limassol Avenue in the area of Agios Georgios, about 250 meters east of the Nicosia - Limassol highway.
It has a total area of 7,163 m2 and consists of:
- Construction area with a mezzanine that is divided into a raw material warehouse, packaging space, and storage space for goods.
- Office space consisting of reception areas, administration offices, kitchens, toilets, locker rooms, and cafeteria.
9 place - 6-storey building in Agios Dometios
For € 5 089 000, a 6-storey mixed-use building with a built-up area of 3,205 m2is for sale, which is located in an advantageous location in Agios Dometios in Nicosia. The property is located very close to the Kolokasidis roundabout, opposite the industrial area of Engomi.
It consists of a basement, retail stores, and storage space on the ground floor, as well as offices and apartments on the other floors. The ground floor consists of four shops, the 1st floor of two offices and one apartment, the 2nd, 3rd, and the floor of four apartments on each floor and the fifth floor of one floor.
10 place - The building at the entrance of Nicosia
For € 5 million, a two-storey commercial building/exhibition space with a basement for sale in Strovolos, Nicosia. It is located at the entrance/exit of the city, with good accessibility to the city center and the surrounding areas. The building consists of a basement of 685 m2 for use as a warehouse, ground floor 2,200 m2of which 580 m2 is used as a showroom and 1,620 m2 as a warehouse. The first floor has a total area of 1,335 m2 and consists of offices, showrooms, etc.