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Athens: Former political party offices to turn into a luxury Hotel

The Margi S.A. won the tender for the 50-year lease of the neoclassical building that hosted the offices of the New Democracy political party, on Rigillis street. The company will renovate the building and run the luxury hotel. The total investment is estimated to reach € 1.68 m.

The monthly lease is set to € 16000 for the first 5 years. After that, it will be adjusted annually based on the Consumer Price Index, +1% of the lease. The building belongs to the Agricultural University of Athens and the income of the lease will be used for the preservation and enrichment of the Diomedes Botanical Garden.

The emblematic Rigillis building was designed by the great architect Anastasios Metaxas.

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