Greece’s Jumbo group has carried out another strategic investment in Cyprus with the recent purchase of the premises of the former warehouse of Orphanides Supermarket in Aradipou, Larnaca district.
The premises were in the hands of Bank of Cyprus Real Estate Management Unit (REMU).
The agreement covers a total area of 15,000 sq.m. of storage space on a plot of land of 29,818sq.m. in the industrial district of Aradipou. Specifically, the building consists of offices with auxiliary space of 250sq.m. and a warehouse of about 14,700sq.m.
The construction is considered to be quite solid thanks to the use of high quality materials such as sandwich type panels (walls & roofs), industrial floors, VRV heating / cooling system, suspended ceilings etc.
The property is located within a well-established industrial area consisting mainly of medium to large industrial properties with some large factories and warehouses. It has direct access to the highway and is also very close to Larnaca International Airport.
The property falls under Industrial Design Zone Bb1 with a building density factor of 180% and a coverage factor of 50% on six floors.
The company has carried out a number of significant investments in Cyprus in recent years, significantly boosting its business and further consolidating the retail toy market.
The purchase of the Aradipou warehouse follows that of the former headquarters of Stephanides Group, located near The Mall of Cyprus in Nicosia, late last year.
Jumbo Trading Ltd – the Greek Group’s subsidiary in Cyprus – now comprises a total of five stores – one in Nicosia, one in Larnaca, two in Limassol and one in Paphos.