land Assets News: Greek Real Estate Intelligence

After it purchased the building that formerly housed the Sun Tower DIY, on Strovolos Avenue, Limassol from Remu (Real Estate Management Unit of the Bank of Cyprus), the Provident Fund of The Cyprus Bank Employees proceeded with a new purchase by the APS of Hellenic Bank. Specifically, the Fund bought a commercial plot for €1 m next to the former Sun Tower, where a private hospital is going to be built. The property has a total area of ​​1,138 sqm with a facade of 58 meters and it is currently used as a parking lot together with an adjacent plot. Original Source: Philenews.com Adaptation/Summary: Kiki Athanasiadis

The special administration of Ektasis Development and the auction of the company’s 15 properties have raised nearly €52 m. The results coming from the initial bids confirmed that Kodak's property in Maroussi would attract the highest interest. The Brook Lane Capital-Noval consortium submitted the highest bid for the property with €28.6 m. Dimand followed with 25.2 m, and Mytilineos offered about €21 m for the same property. AB Vassilopoulos submitted the highest bids for two of the four properties it leases from Ektasis. More specifically, it submitted a bid of about €4.6 m for the property in Agios Dimitrios and about €1 m for the property in Vrilissia. The property in Agios Dimitrios includes a two-storey store of 1,527 sqm, while it has 59 parking spaces in the two basements as well as auxiliary/common areas of 635 sqm. The property occupies about half of the available plot and therefore more can be built in the remaining part of the plot, like a building of 1,686.51 sqm. For the store rented by AB Vassilopoulos in Heraklion, Crete, the bidder was a local company, and for the property of Kifissia, which is controlled by 20% by Ektasis and also hosts a store of AB Vassilopoulos, the bidder is reportedly Atlanta. Ten Brinke was declared the highest bidder for two properties with bids of €4 and €3.6 m respectively, while Unifarma pharmaceutical company placed the highest bid for the plot at the Kalyftaki junction, at €2.6 m. Original Source: Euro2day.gr Adaptation/Summary: Kiki Athanasiadis