Six emblematic Greek properties came under the gavel and changed hands

Six well-known commercial properties have changed hands over the past two and a half months through auctions and public tenders, with their new owners paying a total of about 87m euros for their acquisition. More than half have been on the auction block before, but had failed to garner interest.

Prime real estate in Maroussi

In Maroussi, the three large office properties that doValue Greece put up for sale sold like hotcakes. On June 6, the office building in Marousi, Attica, at 8 Chimarras street, as part of a enforcement procedure, was leased to Prodea Investments through free sale, with EY (Ernst & Young) as tenant.

The acquisition price amounted to 35 million euros, as stated in Prodea financial statements, while its fair value, according to a relevant estimate made by independent appraisers, was 34.113 million euros.

The second property, at the junction of 18-20 Sorou and Maroussi-Halandriou streets, with a total area of ​​16,795 sq.m., which houses the offices of Fourlis and Bayer, passed into the possession of Trastor for a price of 27.05 million euros.

For the largest and most expensive of the three properties, at the junction of Heimarras and Gravias streets, with an area of ​​30,000 sq.m., with a starting price of 45.6 million euros, there is a strong interest from the tenant to buy. The building in question is leased by Hellenic Petroleum and it is said that HELPE’s offer is around 15 million above the starting price.

These three properties had originally been acquired by the Cypriot businessman Loukas Ellinas through loans. The loans were then securitized as non-performing and passed into the control of doValue through the ‘Cairo’ special “vehicle”.

Note that all three properties (each separately) would go under the gavel at the end of the month. Based on the online platform E-auction, all three auctions are suspended.

Lakis Gavalas’ Kantza “headquarters”

Entrepreneur Lakis Gavalas had attempted to get the state to pick up his properties in order to settle outstanding debts, but failed. Now, the “crown jewel” of his businesses, the emblematic building in Kantza, located next to Attiki Odos, has gone to shipowner Evangelos Pistiolis.

The shipowner acquired the property during the electronic auction that took place on May 13, through a Cypriot company, paying one euro more than the starting price, ie 9,000,001 euros.

The 3.1 hectare property, which has many burdens, mortgages and seizures by Piraeus Bank, the tax office and the social security fund IKA, sports three independent buildings, namely:

– Building 1 consisting of a basement of 400 sq.m., ground floor of 400 sq.m. and another floor 374.67 sq.m.

– Building 2 consisting of a basement of 979.32 sq.m., and a ground floor of 1,000.50 sq.m.

– Building 3 consisting of a basement of 539.48 sq.m., ground floor of 5,458 sq.m. with semi-outdoor spaces 315.25 sq.m. and floor 4,423.44 sq.m.

– Also, in the surrounding area there are additional spaces of 44 sq.m. and a 22.95 sq.m. guardhouse.

The ghost of Langadas

Agno, the first Greek dairy company to produce pasteurized milk in Greece, in 1955, or rather what was left of it after the final shutdown in 2014, was acquired by the group Hellenic Dairies of the brothers Dimitris and Michalis Sarantis, which was the sole bidder in the public bidding, which took place on March 31, 2022.

The auction concerned the sale of the area of ​​132,239 square meters in the areas of the communities of Perivolaki, Lagyna and Kavallari in the municipality of Langadaa, in Thessaloniki, together with the buildings and equipment, of the trademark AGNO and the individual trademarks (AGNO CHOCO MIL .a.) to which the poor company is entitled.

Hellenic Dairies paid a price of 7.73 million euros and finally took possession of the facilities and brands of the historic northern dairy.

The proceeds will cover debts to insurance funds, banks and employees, with Hellenic Dairies SA promising the rebirth of Agno and its transformation into a modern business that will meet the needs of consumers.

Warehouses in Tavros

MRP TAVROS SA was announced by the HRADF as the highest bidder for the purchase of the property of the former warehouses of EOMMEX in Tavros, as the Dutch company was the only one that submitted a bid, totaling 2.5 million euros. The Court of Auditors will carry out a pre-contractual audit, while the contract will be signed after its approval.

This is an urban property in Tavros, containing old buildings used as EOMMEX Exhibition Spaces, Laboratories and Warehouses, built from 1940 to 1970. The total area of ​​the buildings comes to 1,526.79 sq.m. One of these buildings with a coverage area of ​​583.95sqm. and a total area of 837.22 sq.m., has been declared a contemporary industrial monument.

The area in which the property is located in the Municipality of Moschato-Tavros has “Urban Center” permitted land uses, which result in significant potential for development, giving prospective investors the opportunity to choose future uses from a wide list of possibilities.

However, the “former EOMMEX warehouses” are still being claimed by the municipality of Moschato-Tavros.

The remnants of heavy industry in Evia

The factory of the Hellenic Pipeworks of Chalkida (formerly Tsaousoglou) in “Glyfa” Drosia near Chalkida also changed hands a few days ago. The factory, which has been closed since 2014, belonged to the Michaniki firm of the Emfietzoglou family and was once one of Greece’s heavy industries.

The property includes a plot of 41.2 hectares as well as parts of forest areas while partial building facilities have been erected, the construction of which began in 1966 and was completed in 1983.

The amount paid came to 5,510,001 euros, one euro above the first offer price.