By T. Igoumenidi
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A subsidiary of Athens-based Dimand Real Estate is the new owner of the central Athens building that previously served as the headquarters of the now bankrupt Tegopoulos media group, which published the "Eleftherotypia" daily for decades.
Value Tourism Co. acquired the property for 10.885 million euros after it submitted the sole - and ultimately successful - bid in a public e-auction. The bid was equal to the minimum asking price for the property.
A estimate of seven million euros was given for the six-storey building's renovation if it will serve as corporate office space. Total surface area is given as 14.427 square meters in a 3,200-square-meter lot in the Neos Kosmos district.
The sale comes in light of Dimand's decision to allow rival Grivalia Properties to enter its share capital.
Dimand και Grivalia are already in a partnership to commercially exploit the one-time Papastratos cigarette plant in Piraeus, with the first acting as the property developer and the latter assuming its ownership and management.
Dimand last November signed an agreement to establish a consortium with EBRD to acquire a further credit line for investment in the domestic real estate sector.
