Neo Plaza going under the hammer for at least €10.5 million

08:02 - 21 August 2023

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The Neo Plaza Retail and Fun Park in Kokkinotrimithia, Nicosia is going up for online auction.

The Neo Plaza has been operating for approximately two years but visitors, especially in the last year, have reportedly decreased significantly compared to its 2021 opening.

The notice to conduct the e-auction was posted on the website of the Interior Ministry (auction notices), at the request of AstroBank Public Company Limited.

The reserved sale price amounts to €10.5 million, with a guarantee amount of €1,050.

The property which is being auctioned, consists of the 'open-plan' discount village known Neo Plaza on one level (ground floor). It is further noted that the property in question has a total area of 35,133 sq.m., which includes 38 retail stores, 10 restaurants, a supermarket, a car wash, and a children's playground with a total area of about 13,310 sq.m., circulation corridors, sanitary areas and a large number of uncovered parking spaces.

It is clarified that part of the above spaces are subject to leases/rentals, while the operating license of the Neo Plaza discount village is affected by the lease of neighbouring properties.

The sale will be conducted through the Electronic Auction System on the Electronic Auction website www.eauction-cy.com, on 29 September 2023, at 10am.

(Source: InBusinessNews)

Neo Plaza going under the hammer for at least €10.5 million

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