Intercontinental picks up Crete property for 2.3 mln euros

Greek real estate company Intercontinental International has purchased 1,640 square meter building in Crete for 2.3 million euros, it said on Monday.

The company, whose shares are listed on the Athens bourse, said the building is located on the Ierapetra-Aghio Nikolao road and is fully leased to a retail store for a minimum of nine years. It is located on a plot of land covering 2,639 square meters and offers a gross annual yield of 9.65%