Auctions: Second chance for the plot-fillet on the beach and the shop in Glyfada

By Matina Harkoftakis

The plot-fillet in Glyfada, which belonged to the M. Papathanos Construction company and is located on Poseidonos beach avenue, made its reappearance on the electronic auction platform. Although the auction adventure for this property has been going on for a few years now, no interested buyer has been found so far.

Despite its privileged position, the high starting price has all this time acted rather as a deterrent for potential bidders. On November 11, therefore, a new sale attempt is scheduled to be made, with the first offer price having “fallen” to 5.798 million euros.

The starting price and area

We remind you that in the first attempt to sell in 2020, the starting price was set at the amount of 8.312 million euros following a cut-off request filed before the Single-Member Court of First Instance of Athens, which decided to correct the price upwards to 8.312 million euros from the amount of 4.080 million euros estimated in the initial confiscation report.

However, in the next auction, it has been reduced, as mentioned, to 5.798 million euros, while Intrum Hellas is the runner-up. It should be noted that this is a plot of land, which is undeveloped and extends over a surface of 2,314 sq.m., while it has a facade to the southwest on Posidonos Avenue and to the northwest on Iatro Liuga Street at number 6.

As pointed out in the appraisal report, the property, which is located downstream of Piraeus, at a distance of approximately 200 meters from the Holy Church of Agios Konstantinos, is located in a mainly residential area, which presents an average building density and generally has a very good street layout.

The ground floor store in the center of Glyfada

This, however, is not the only hammer that will hit on the same day for a property of the M. Papathanos company, as a store will also be opposite, which is also located in the Glyfada area and more specifically on Laodikis 28-30 and Vas. Georgiou B. In particular, the auction concerns a ground-floor shop of 101 sq.m., which is being developed in a commercial building, which includes shops on the ground floor and office spaces on the floors, while its construction is estimated to have been completed between the years 1999-2001.

The store owns for exclusive use an uncovered parking space of 32.70 sq.m. which has an independent entrance from Laodikis Street as well as an uncovered plot area of ​​32.80 sq.m.

As pointed out in the assessment report, according to the decision of the Single Member Court of First Instance of Athens, the section of the store’s exclusive use uncovered area has been closed and functions as a continuous area of ​​the store. In addition, a loft area of ​​64.94 sq.m. has been configured. which is connected by an internal staircase to the business area on the ground floor. The price of the first offer amounts to 1.143 million euros, while the auction is accelerated by Piraeus Bank.

Among the positives of the property, as noted in the appraisal report, is the area in which it is located, as it is located at the north-eastern end of the central commercial core of Glyfada, at a distance of two building blocks from Zisimopoulos and Nymphon squares. The immediate area of ​​the store is the central zone of catering-health-interest areas of Glyfada, which gathers a large number of visitors on a daily basis.

Finally, it presents a high building density, generally has good street layout but also a severe problem of finding parking spaces on the street, which worsens during the working hours of the shops.