An offer was submitted to the Hellenic Republic Asset Development Fund-HRADF for the utilization of the property “Loutropolis Kamena Vourlon” (Kamena Vourna spa) with a long-term lease of 40 years.
As stated in a relevant announcement of the Fund, the offer was submitted by the investment scheme consisting of a consortium of the companies GALINI S.A. and STARITEM INVESTMENTS PLC.
The financial offer will be unsealed at the next meeting of the Board of Directors of the HRADF, following all the prescribed procedures.
The property and the competition
The property, with a total area of 474,524 m2, includes the facilities of the “Galini” hotel and the “Hippokratis” hydrotherapy center, which are in operation, the listed hotels “Radion” and “Thronion” and the “Asklipios” hydrotherapy center, which are abandoned. Within the area is the “Georgala” thermal spring, which has been recognized since April 2020.
“The bidding process for the utilization of the property is carried out in one phase. The financial consideration includes a one-time payable consideration of at least 1 million euros and an annual rent, with the sole criterion for the evaluation of the offers being the highest final rent, made up of the one-time payable consideration and the offered annual rent in present value. The bidder, through the lease agreement, will be called upon to implement mandatory investments in order to upgrade and modernize the property,” the Fund states.
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