Approval granted for hotel development at the Schliemann–Melas Mansion

The approval concerns both the restoration of the listed building at 46 Panepistimiou Street and its conversion into a five-star hotel. This is one of the largest hospitality projects currently underway in the centre of the capital.

The property was leased in 2022 to Mitsis Hotels following a tender process conducted by EFKA, with a monthly rent of €70,000. The lease has a duration of 35 years, with an option for a further 10-year extension, and is subject to specific terms and obligations.

The group has announced an investment of €36 million for the full renovation and upgrading of the Schliemann–Melas Mansion.

At the same time, the historic Ideal cinema will not only retain its existing use but will also acquire additional functions. It is planned to be expanded into a theatre and conference centre, aiming to increase visitor traffic and enhance the value of the property.

The tender concerned the long-term lease of the building complex at 46 Panepistimiou Street and 1 Harilaou Trikoupi Street, also for a period of 35 years with a possible extension.

The listed complex, with a total area of 7,945 sq.m., which also houses the Ideal cinema (829.5 sq.m.), was designed in 1890 by Ernst Ziller and is one of the most characteristic buildings on Panepistimiou Street.

According to the terms of the tender, a minimum investment of €15.2 million is also required, while a three-year rent-free period is granted for the execution of the works.

Regarding the Ideal cinema, the Athens City Council has recently designated it as a protected use building, alongside the Astor and Aello cinemas. Structural issues had been identified in the building, which were aggravated after a section of a wall collapsed at the rear of the premises, an incident of which the investors had been informed.

The Ministry of Culture has approved the architectural preliminary study for the restoration of the Schliemann–Melas Mansion and adjacent buildings, as well as for their conversion into a five-star hotel. The plan also includes the demolition and reconstruction of the Ideal cinema at a lower level, the addition of a new wing with a rooftop swimming pool, a new restaurant on the terrace, and the reconstruction of adjacent buildings with underground spaces.

Furthermore, conditions have been set for additional studies regarding façade design, the protection of neighbouring monuments during excavation works, the investigation of internal spatial connectivity, and the reassessment of the glass surfaces behind the publishing house, in order to reduce their volume and height.