On Monday, July 28 at 11:00 a.m., e-EFKA will conduct a repeat tender with sealed bids for the 30-year lease of a plot located at 8–10 Kriezotou Street, intended for the development of a building in line with the permitted land uses of the area.
The property to be leased is a 490.35 sq.m. plot, previously used as an open-air parking lot. It is polygonal in shape, with a slightly sloping, asphalt-paved surface. The plot features a northwest frontage of 32.8 meters on Kriezotou Street, half of which is enclosed with wire fencing and the other half with a manually operated iron gate.
According to the tender conditions:
The construction work will be carried out entirely at the expense of the lessee, with a minimum investment of €4 million (excluding VAT).
This amount cannot be offset in any way against the rental payments.
Investment Conditions:
If the selected bidder undertakes construction works costing more than the minimum required investment, no compensation or rent reduction will be granted.
If the actual investment is less than €4 million, and the bidder proves in writing that such an amount is not required, the difference must be paid as additional rent in 12 monthly installments during the first year after project completion.
The plot may be used for any legal purpose allowed by zoning regulations (e.g., hotel, school, car park, etc.).
Financial Terms:
Starting monthly rent: €65,000 (subject to a 3.6% digital fee).
The rent will increase annually based on the Consumer Price Index (CPI) plus an additional 10%.
No rent increases will apply during the first 2 years of the lease, due to the implementation phase of the investment.
LAMPSA Group’s Preferential Option
After the winning bidder is selected, the outcome will be communicated to both participants and to “Zalokosta Tourism Single-Purpose S.A.”, a subsidiary of the LAMPSA Group, which will then have 60 days to exercise its preferential option.
If Zalokosta chooses to exercise this option, it must submit:
A formal declaration of intent.
All required documents, dated according to the official request timeline.
This option can also be exercised in favor of LAMPSA Hellenic Hotels S.A., the parent company, as long as it remains the majority shareholder of Zalokosta.
If the current repeat tender is declared void, the option can still be exercised using the minimum rent level set in the tender terms.
If Zalokosta Tourism S.A. submits its preferential claim on time, the tender committee will issue an evaluation report, which will then be submitted to the e-EFKA Board of Directors for approval and final award of the lease.
If not, the lease will be awarded to the highest bidder.
