The list of properties that the Single Social Security Entity (EFKA) is putting up for utilization through concession tenders is constantly growing.
EFKA has 517 properties in its portfolio, with an estimated value of over 1.5 billion euros. Of these, approximately 200 host the fund’s services.
The latest addition concerns a building located at the intersection of Praxitelous and Paparrigopoulou streets, in the center of Athens. This is a repeat tender, with similar terms to the first and the expectation that this time there will be interest from the market.
Like most buildings promoted during this period through tender procedures, this one is also considered suitable for conversion into a hotel. Based on the terms of the tender, the tenant must have proven experience and expertise in the operation and management of at least one hotel or tourism accommodation with a capacity of 15 rooms or more. Therefore, the tender is addressed to companies in the hospitality industry. This is a listed building, with three floors and a total area of 1,152 square meters. It was built in 1910 in the neoclassical style. The contractor must implement a minimum investment of €1.5 million for the reconstruction of the property. The deadline for submitting bids is March 19.
On May 7, bids are also expected to be submitted for the former TSMEDE building on Kolokotroni Street. This is a 4,213 sq.m. property, also of a listed nature, built in 1938. The minimum amount of the required investment by the private individual has been set at €4.5 million. The minimum monthly rent has been set at €4,000.
The third building for which a tender has been announced this year is another listed one, with an area of 1,833 sq.m. on Voulis Street, which, being close to Syntagma Square, is considered top-pick and suitable for hotel use. A minimum investment of €3.5 million will be required.
Also, on Stadiou Street, the development of a historic listed building, of 3,336 sq.m. and a typical example of the neoclassical architectural movement of 19th century Athens, is being promoted.