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Business for sale in Elliniko, Athens, Greece, 800 m²

Business for sale in Elliniko, Athens, Greece, 800 m² - photo 1
Business for sale in Elliniko, Athens, Greece, 800 m² - photo 2
Business for sale in Elliniko, Athens, Greece, 800 m² - photo 3
Business for sale in Elliniko, Athens, Greece, 800 m² - photo 4
Covered area800 m²
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Sale - Business 800 m² in Athens

There is offered for sale a commercial space of  800 sqm in the heart of Athens- Metaksourgeio area 

The neighbourhood is located north of the historical centre of Athens, between Kolonos to the east and Kerameikos to the west, and north of Gazi. Metaxourgeio is frequently described as a transition neighbourhood. After a long period of abandonment in the late 20th century, the area is acquiring a reputation as an artistic and fashionable neighbourhood due to the opening of many art galleries, museums, and trendy restaurants and cafes. 

Moreover, local efforts to beautify and invigorate the neighbourhood have reinforced a budding sense of community and artistic expression. Anonymous art pieces containing quotes and sayings in both English and Ancient Greek have begun springing up throughout the neighbourhood, containing statements such as "Art for art's sake" (Τεχνη τεχνης χαριν). Guerrilla gardening has also helped to beautify this area, taking advantage of the ample sunshine in Greece. The heart of the neighbourhood is Avdi Square, which draws residents and visitors with its open space, greenery, periodic festivals and gatherings, and adjacent restaurants, theatres and art gallery. 

Currently the property is used as event hall , and could also be used as a night club (there is also a license) - restaurant -  it could also be leased  to  a bank

The property is a  good investment due to the fact  that it is located  at the most commercial point in the area, it will be always  on a high demand from potential tenants

Extra Сosts when Buying Property

If the Building Licence was issued on or after 01/01/06 and the seller is a developer-contractor 24%
Otherwise 3.09%
Land Registry Fees 0.5% (+24% VAT)
Notary fees 1.5% (+24% VAT)

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Ongoing Ownership Costs

Water supply €60-250 p.a.
Heating €0.104 KW/h
Electricity €0.07 KW/h
Gas €140-400 p.a.
Telephone and Internet €180-600 p.a.
Expenditure on common areas €200-400 p.a.
Income tax return from €50 p.a.
For buildings €2-13€/m2 p.a.
For plots of land in settlements 3-9€/1000 m2 p.a.
For plots of land outside settlements 1€/1000 m2 p.a.
Price from 200,000 0.1%
Price from 250,000 0.15%
Price 300,000-400,000 0.3%
And so on

Additional Services Costs

Legal fee 1.5% (+24% VAT)
Real Estate Agent Fee 2% (+24% VAT)

Return on Investment

Property Price
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