By L. Karageorgos
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At least three new luxury urban resorts on or next to Syntagma Square, in the heart of Athens, is the target of Greece-based hotel developer and operator Lampsa group, with two relevant property tenders expected to be concluded in the coming period.
The first sale tender involves the King George Hotel – which is located directly on Syntagma Square and next to the iconic Grande Bretagne, Athens’ best known hotel. The property’s owner, Greek lender Eurobank, has decided to sell the hotel. Lampsa already holds a 20-year lease as of 2012.
According to reports, up to eight investors are also interested in the property, including current lease-holder Lampsa.
Another well-known property, located at the corner of Panepistimiou and Kriezotou streets, and directly across Panepistimiou boulevard from the Grande Bretagne, which is owned by a pension fund controlled by of former Agriculture Bank employees, has also expressed an intent to lease the site for a long-term investment, such as a hotel.
Lampsa has been declared the highest bidder in the relevant tender organized by the fund’s board.
