The tender refered to the long-term lease of the building at 46 Panepistimiou and Charilaou Trikoupi 1 for 35 years with the right to be extended for another ten years.
The preserved building with a total area of 7,945.12 sq.m. which also houses the IDEAL cinema with an area of 829.50 sq.m. it was designed in 1890, by Ernesto Ziller and is one of the most characteristic buildings on Panepistimi Street.
It is noted that the starting monthly rent of the tender was set at €60,000, while the tenant would have to commit to a minimum investment amount of €15,200,000 (before VAT).
According to the terms of the notice, a period of three years of non-payment of rent is foreseen for the execution of the upgrade works.
The cinema IDEAL
It is been reminded that IDEAL cinema was recently declared by the Athens municipal council as a preserved property with regards to its use along with the Astor and Aello cinemas.
In the Ideal cinema, as in the entire building complex, static problems were identified which were aggravated by a recent wall fall at the rear of the cinema, of which the investors were aware.
