Eurobank announced today that it had accepted Lampsa SA’s pre-emption right for the acquisition of the five-star King George Hotel for 43 million euros.
Located in the heart of Athens on Syntagma Square next to the Hotel Grande Bretagne, the 102-room 9,450m2 King George, dating back to the 1930s, was put on sale in May by its owner Eurobank.
The hotel was leased to Lampsa SA in 2012 for 20 years with an annual rent of 700,000 euros.
A Laskaridis Group company, Lampsa has been listed on the Athens Stock Exchange since 1946 and is active in the hospitality sector owning among others the Hotel Grande Bretagne, the Sheraton Rhodes Resort, and the Hyatt Regency in Belgrade.
According to the statement issued by Eurobank on Monday, “the procedure for the collection of the necessary documents for the signing of the relevant purchase and sale contract is in progress.”
In related news, according to media reports, Lampsa is now looking into purchasing property on the corner of Panepistimiou and Vas. Sofias sts, currently housing foreign ministry services.