An investment opportunity for a new hotel in the heart of Athens, in the historic commercial triangle of the Syntagma-Old House area, is “opening” the announcement of a repetitive public bidding by E-EFKA, which relates to the lease of the preserved neoclassical building complex.
The property will be used by the lessee as a hotel or non-main hotel accommodation, in accordance with the current legislation and always within the permitted, as applicable, uses and conditions of construction. A minimum monthly start of start of the competition is set at the amount of 10,700 euros.
The lease will last for 30 years, with the possibility of extending for another 10 years, and the contractor will be required to implement an investment program of at least € 3.5 million, including VAT, which includes complete renovation, the cost of rebuilding the property, the costs of studies, licenses and supervision. The final investment program will be submitted to E-EFKA and will be approved by the E-EFKA Technical Department.
In addition to the execution of the investment program, the contractor is obliged to maintain a complete preventive maintenance program for the property, which will be subject to regular checks by E-EFKA, to ensure the preservation of the cultural and architectural value of the lease.
The competition will take place on Wednesday, September 24, 2025.
How is the complex of the two preserved buildings
The property consists of a complex of two preserved buildings, designated as a work of art. One building has a facade on Paris Street, and the other is erected on the back of the plot and communicates with Lekka Street through a communal arcade. The two buildings communicate via a patio.
The facade building on Paris Street has a total mixed surface of 784 sq.m. (superstructure – ground floor, mezzanine, 1st & 2nd floors) and the interior building has a total mixed surface of 1,038,00sqm. (superstructure – ground floor, 1st & 2nd floors), consists of four identical levels of 259.50sqm. Each, while above the second floor, there is an attic.
The construction of the complex, a characteristic sample of the neoclassical rhythm, dates back to the early 20th century. As stated in its text since 1986, the facade of the facade as a work of art. It is an important example of neoclassical architecture characterized by symmetry in the face and clarity of the individual neoclassical morphological elements. It is a large building in volume, three-storey, stone-built, tiled roofs with remarkable individual architectural elements, such as the pillars on the other floors that reach the roof cornice adorned with a series of gesipides, the openings (otherwise frames). The balconies are marble with furry sculptures and well-made cast iron railings. The above morphological and architectural elements give the building symmetry and elegance, elements of the neoclassical rhythm, and each one and in all, compose the concept of artwork, in accordance with Law 1469/50.
The property, in its 1947 acquisition by the former TAP-OTE, was leased as a whole (11 employees). The last tenant in one of the ground-floor stores left in 1995. In building B and part of the interior, operating a paper industry (Aegion SA) and a printing house (Ioannis Economou and Pan. Palivogiannis). Following the departure of these employees, they remained inside the property used by the printing house. These machines are considered particularly valuable and indicative of the typographical art of that time.
