The Group participated in the Public Tender announced by the Electronic National Social Security Agency (e-EFKA) for the selection of a Contractor for the lease of the property at 46 Panepistimiou Street and 1 Charilaou Trikoupi Street, in Athens and was selected as the Tender Contractor. On 01/17/2023, a lease agreement was signed for the property, with a duration of 35 years and the right to extend by 10 additional years.
The building was built in the 1880s - 1890s and belongs to the complex of four houses erected by Errikos Schliemann on Panepistimiou Street. It was designed by Ernst Ziller and includes a ground floor-mezzanine and four floors above the ground floor, with a total area of 7,115.62 square meters, as well as an additional building in the uncovered area that was not built at the same time as the Schliemann-Mella Palace which houses the IDEAL cinema, 829.50 square meters.
The Mitsis Hotels Group will utilize the building with respect for its history and the neighboring listed buildings, such as the Conservatory. In consultation with the competent authorities and bodies, it will propose solutions, especially to the Ministry of Culture, in order to remove any spatial and aesthetic oppression of the neighboring neoclassical buildings, with the aim of highlighting but also protecting the monumental environment, in which the building is located . At the same time, the use of the cinema will be expanded, with those of the theater and the conference center, which will highlight the space, upgrade its use and increase its attendance. The assignment of the operation of the cinema to an international company in the field of entertainment will increase both its aesthetics and infrastructure as well as its visibility.
For this reason, a team of experienced engineers will indicate the most appropriate and efficient renovation and remodeling of the building. The drafting of a Static Adequacy Study, especially in the area of the IDEAL cinema, is a task of primary importance, in order to ensure the safety of its visitors. For this reason, after receiving the building and as soon as work is allowed to be carried out and the required building permits issued, which are currently suspended by decision of the Ministry of the Environment, the Group will immediately take the necessary actions for the safety of the public.
"With 45 years of experience in the hotel industry, the Mitsis Hotels Group will utilize the property in the best and most efficient way for the benefit of the Greek State and the Greek Economy, investing significant funds for the maintenance, renovation and preservation of the character of the historic building, with the aim of highlighting the unique experience of modern Athens to the visitors" said Stavros Mitsis, CEO of the Group.
