Investment Opportunity in a two-storey mixed-use building

The property relates to a two-storey mixed use building situated in Xylofagou, Larnaka. It consists of two blocks with 19 units in total, 4 shops & 15 apartments. Total enclosed areas consist of approximately 976 sq.m. with approximately 109 sq.m. of mezzanine and approximately 143 sq.m of covered verandas. The northeastern block was constructed around 1990 and consists of 4 shops with mezzanine, 2 apartments on the mezzanine and 4 apartments on the 1st floor. The southwestern block was constructed around 2005 and consists of a covered parking space at the ground floor, 5 apartments on the mezzanine and 4 apartments on the 1st floor. Both blocks are connected with communal staircase and lobby. The shop no.1 on ground floor has 42 sq.m. internal area, 21 sq.m. mezzanine and 5 sq.m. covered verandas. The shop no.2 on ground floor has 42 sq.m. internal area, 19 sq.m. mezzanine and 5 sq.m. covered verandas. The shop no.3 on ground floor has 45 sq.m. internal area, 21 sq.m. mezzanine and 7 sq.m. covered verandas. The shop no.4 on ground floor has 95 sq.m. internal area, 48 sq.m. mezzanine and 9 sq.m. covered verandas. The apartment no.1 on mezzanine has 60 sq.m. internal area and 6 sq.m. covered verandas. The apartment no.2 on mezzanine has 28 sq.m. internal area and 6 sq.m. covered verandas. The apartment no.3 on first floor has 24 sq.m. internal area and 6 sq.m. covered verandas. The apartment no.4 on first floor has 24 sq.m. internal area and 6 sq.m. covered verandas. The apartment no.5 on first floor has 52 sq.m. internal area and 6 sq.m. covered verandas. The apartment no.6 on first floor has 38 sq.m. internal area and 6 sq.m. covered verandas. The apartment no.7 on first floor has 50 sq.m. internal area and 5 sq.m. covered verandas. The apartment no.8 on second floor has 52 sq.m. internal area and 6 sq.m. covered verandas. The apartment no.9 on second floor has 38 sq.m. internal area and 6 sq.m. covered verandas. The apartment no.10 on second floor has 50 sq.m. internal area and 5 sq.m. covered verandas. The apartment no.11 on second floor has 65 sq.m. internal area and 5 sq.m. covered verandas. The apartment no.12 on second floor has 76 sq.m. internal area and 14 sq.m. covered verandas. The apartment no.13 on second floor has 85 sq.m. internal area and 28 sq.m. covered verandas. The apartment no.14 on second floor has 60 sq.m. internal area and 6 sq.m. covered verandas. The apartment no.15 on third floor has 50 sq.m. internal area and 6 sq.m. covered verandas. The asset is located approximately 1.8km from A3 motorway, approximately 350m from Xylofagou community center and approximately 2.7km from the beach. A certificate of final approval has been issued for the north-eastern block. South-western block building permits should be renewed and separate title deeds could be issued subject to issuing relevant permits and proceeding to legalizations within the property. The property falls within Zone H2, with a building coefficient of 90%, coverage of 50%, and permission for 2 floors (8.3m) of construction.