The hammer of the once ‘most expensive property in the country’ in Lagonisi of the Tiga couple

of Matinas Harkoftaki

About 8 years ago it was among the most expensive properties for sale in Greece, appearing on real estate websites aiming to find interested buyers mainly from abroad.

Today, with the strong signs of wear and tear left over by the passage of time, it follows the path of the auction.

The reason for the plot-fillet in Lagonisi, in which an unfinished residential complex has been built, which belongs to Starlet Ktimatiki, one of the many companies associated with the couple Eugenios Tigas and Stella Lazarou-Tiga (for many years president of the Navy Vouliagmeni Group), who from time to time have developed business activities in the real estate sector as well as in other sectors such as shipping.

Mr. Tiga’s name was in the spotlight when in 2008 the businessman was named the highest bidder in a competition of the Benaki Museum for the Koniaris estates in Voula for the price of 101 million euros.

In fact, he had paid the amount of 30 million euros to the Museum as an advance, but later he appealed to the court, asking for the money back. With this move, a legal dispute started between him and the Benaki Museum, which led to the Supreme Court, which acquitted the businessman, to whom the deposit was finally returned.

The plot with the unfinished buildings

On May 25, therefore, the specific property has been launched for the first time as the auction, which was originally planned in the summer of 2021, was finally suspended.

This is a plot (former plot) with a total area of ​​19,756 sq.m. in which unfinished buildings of 2,093 sq.m. are located. and which is located at the 38th km of the coastal road Vouliagmeni – Lavrio in Lagonisi.

The complex consists of 3 buildings, which, with the exception of a small part, are unfinished, at the stage of coatings, while the external frames have been installed. Recall that in the period 2013-2014 the Tiga couple had made an effort to sell this property for a staggering amount of 45 million euros, a price that made it claim the title of the most expensive property in the country at that time based on at least requirement of its owners.

Judging by the subsequent development of the events, the sale attempt was not successful while a few years later the property is faced with the electronic auction as it was confiscated for the amount of 1 million euros.

The upward correction of the starting price

The first offer price has been set at 14.65 million euros following a decision by the Athens Single-Member Court of First Instance, which ruled that the initial starting price of 10.5 million euros should be corrected upwards.

It should be noted that Starlet had filed a counterclaim in February 2021, requesting a price correction with the Court of First Instance accepting the claim in part, noting, however, that its value was not more than EUR 14.65 million. as the buildings have not been completed while “they have been left in this condition for a number of years, with the result that they have been damaged over time, while still, no, and if completed they will be disadvantaged compared to the corresponding new buildings, as the old age will continue to be reflected in the bearing body and in the already completed works “.

In addition, the decision specifically mentions the fact that the prospective buyer will have to put his hand deep in his pocket both for the completion of the construction and the restoration of the damages as well as for the renewal of the building permits.

It should be noted that Starlet had submitted reports before the court, which increased the value of the property to at least 20 million euros, however, the comparative data showed that among them was a property located within the Four Seasons hotel complex in Astera Vouliagmeni, ie in a different place from the one where the judged property is located and of different specifications.

Regarding the advantages of the property now, the unobstructed view to the sea was taken into account, as well as the fact that the plot is even in derogation and buildable as the building conditions of the area then changed and today in the same area are allowed only uses for bathing facilities and land and sea facilities for maritime sport.

The property has a pre-notation from 2008 of the order of 23.08 million euros in favor of Piraeus Bank, which is also rushing to the next auction.

It should be noted that based on the latest published statements, Starlet’s total assets amounted to 22.6 million euros while showing net profits of 3,776 euros.