Her Matinas Harkoftakis
Possibly there is no other industrial property in Thessaloniki for which so many appeals have been written for its salvation. Expected, after all, since the preserved Allatini Mills complex in eastern Thessaloniki is one of the most emblematic and historical buildings of the city, but also one of the most neglected.
For decades it has been immersed in abandonment and decline as any efforts that had been made in the past to exploit it “wrecked”.
The once impressive factory of the 19th century with the characteristic red chimneys – a witness of economic prosperity and development – is an integral part of the urban landscape and one of the remaining examples of the industrial architectural heritage in our country.
Fais Group and the acquisition of 25%
After about half a century where the property stands abandoned to the ravages of time, the light has recently begun to dim on the horizon, which may eventually lead to its salvation.
The first step in this direction took place about a year ago when the news of the acquisition of 25% of the preserved complex by an investment scheme involving a company associated with the Faiss group, which has made significant investments in the co-capital in recent years with the springboard investment in the One Salonica discount center 8 years ago to be followed by the acquisition of 55% of the historic Agora Modiano, which is being restored and renovated by the Stoa Modiano.
According to information, the specific percentage was acquired by Alpha Astika Akinita, which had been appointed liquidator of the company Themeliodomi. But as long as the remaining 75% remains trapped, this move is not enough to start the process by which the Allatin Mills could be “revived”.
The grand plan Allatin State that was wrecked
An answer to this issue will be given by the auctions scheduled to be held next autumn and concerning the remaining 50%, which belonged to the now bankrupt Allatini of Northern Greece and the remaining 25%, which belonged to the liquidation company Astikis Anaftyxis Thessaloniki.
We remind you that in 2003 an ambitious plan was presented under the name of Allatini State, which would be developed with partners Allatini, Themeliodomi, Urban Developments of Thessaloniki and Omega Bank and aimed at the utilization of the specific facilities through the implementation of a residential project with innovative features.
The whole project, with a budget of 40 million euros, included the utilization of preserved buildings but also the construction of new houses with a coverage that would not exceed 36%, so as to create green spaces, while according to the schedule it was predicted that was completed in 2007.
The grandiose Allatin State project, however, never came to fruition as it clashed with the construction factors, who did not allow the construction of additional buildings, but also with the reactions of the residents of the area, who appealed to the Council of State.
Debts and foreclosures drove the listed complex into the hands of the banks as it continued to sink into the ravages of time. The Allatini Mills came back into the limelight in 2015 when a 15-year-old girl tragically fell to her death 3 meters into the abandoned premises.
Auctions for the remaining 75%
The bet of exploitation, lost over the years, seems to gain new prospects after the entry of the Faiss group and the planned auctions.
Specifically, on November 16, the electronic hammer is expected to hit for the undivided 50% of the former facilities of the Allatini flour industry in Thessaloniki, with the first offer price set at 3,204,500 euros.
The auction is directed against the Allatini Cereal Company of Northern Greece, while Dovalue Greece is the speedster. About two months earlier, and more specifically on September 7, an auction was launched for the sale of the undivided 25%, which belonged to Urban Developments of Thessaloniki. The starting price has been set at 1,508,000 euros while Dovalue is also accelerating.
The facilities and their designation as a historical monument
As indicated in the appraisal report, the entire property consists of an area with a total surface area of ​​27,752.77 sq.m., from which three sections of 160.94 sq.m., 1,562.48 sq.m. and 19.31 sq.m. respectively.
On the plot in question, which is located at 42-46 Georgiou Papandreou Avenue & Apodimos Hellinismus in the Depo district of the Posidonio area in Thessaloniki, the building facilities of the former Allatini Mills industrial complex, which was built at the end of the 19th century and has been designated conserved in its largest part, as it is a typical example of the industrial architecture of the time.
The complex initially included 35 buildings (maintained and non-maintained) with a total area of ​​18,291.52 sq.m., of which non-maintained buildings with a total area of ​​3,747.98 sq.m. they were demolished in 2003.
The existing buildings have a total area of ​​14,543.54 sq.m., of which 1,121.74 sq.m. concern basements/semi-basements, the 987.02 sq.m. concern non-maintained buildings that can be demolished and the 12,434.78 sq.m. they concern buildings classified as preserved either completely or only in terms of their shell.
The building factor
It should be noted that with the Official Gazette of 1991, 1992 and 2001, the Ministry of Culture classified the largest part of the buildings as a historic preserved monument, while as noted in the assessment report, in its current state the property remains an urban planning unregulated area and for any exploitation action is required approval by the ministry and determination of the building factor, which will be given by Presidential Decree based on the existing legislation, in terms of the form of restoration and the purpose of use.
At the same time, with a decision issued in 2010 by the Council of State, the building factor of 4.2 that had been established previously has been cancelled. Undoubtedly, this is a large property, for which potential buyers will be asked to dig deep into their pockets to bring it back to life.
So far, it remains unclear whether the Faiss group will take part in an auction in order to increase its percentage of the property or will be satisfied with the existing 25%.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
