Intercontinental International REIC announces the acquisition of a commercial property on Korinthos Avenue, at Aigio – Achaia. The purchase price was 400,000.00 euro. It is a completely renovated two-storey building (independent property) totaling 1,367 sq.m. with parking spaces, situated on a land plot of 1,317 sq.m. The entire property is leased with a long-term contract to DIXONS SOUTH-EAST EUROPE S.A. (“KOTSOVOLOS”). The property value was determined based on the valuation report of an external, independent, chartered valuer (surveyor) at 500,000.00 euro. The gross entry yield of the investment is 9.9%.
