[Giorgio]

49 Kifissias Ave.

Property Categories -Sale & Leaseback

Property Address 49 Kifissias Ave.

Land Area m² 11,000

Building Area m² 8,478

Parking Spaces 506

Tenant Media Markt, Giannelos

Contract Duration 2005-2017 & 2005-2021

Contract Value 20,000,000.00€

Est. Completion Date 2006

Description

BVIC acquired the land plot of 11, 000 sqm in January 2005, although a preliminary sale agreement was signed in 2004. It is situated along Kifissias Avenue in the region of Maroussi. It is a predominantly commercial district where numerous high quality large office buildings are located, as well as shopping centres, supermarkets and major cinema complexes. The Olympics Sports Centre of Athens, HELEXPO Exhibition Centre neighbour the plot. The building under construction is already 30% completed, and will consist of a 8,200sqm 3 floor development, with 548 parking spaces. BVIC signed a 12 year lease in the first quarter of 2005, for 5,400 sqm of the building being developed with Media Markt, one of Europe’s leading electronics retailers. It will be Media Markt’s first store in Athens and we feel that Media Markt’s strong brand name will increase the attractiveness of the complex, ensuring a strong retail line-up for the centre. BVIC’s ability to secure a pre-let so soon after having acquired the site, and so early in the development stage, is an endorsement of the strong demand for our product. - 1448 parking spaces on 2nd floor (2a & 2b H.O.), 12 parking spaces (2nd basement)

from http://www.babisvovos.gr

*If you have any pics and info please post them*

 

[gm2263]

George, this has been completed the same day with the "Mall Athens". Now, I am not sure whether Babis Vovos will build the nearby property previously occupied by the Ziridis Schools. In any case, tin the area there are many empty properties, probably waiting for a chande in the building codes.

BTW the particular store by Media Markt has been a complete success. Lately I bought a filter coffee mashine from there, although for my computer upgrades etc, I still prefer the "Plaisio Computers".

 

[Giorgio]

GM Do you have any pictures? The vovos site says its U/c, Sorry. I guess it can be changed to #Completed then.

There is some really nice lowrise constructions and I thought we should have highlighted them better.

 

[gm2263]

Picture taken today 7 May 2006 under clouded skies depicting the Media Markt electronics superstore belonging to the German electronics stores chain named Media Markt.

To the best of my understanding, the store is occupies 6,000 square metres area on two storeys and opened the same weekend with the "Mall Athens". At that time (autumn 2005), there has been a fierce price war between a couple of electronics stores from "the mall" and the Media Markt, especially with the new 5000 sq metre "Dixons-Kotsovolos" (Dixons is a UK-based electronics retailer and for their Athens venture they teamed with Kotsovolos, one of the biggest Greek retailers)

This were the days when you could buy printers and DVD players for €20, although the good pieces were preserving their original prices. In any case, to my understanding, several 42'' plasma screen TVs were sold for just under €999 at that time, you know, brands like LG and Blue Sky.

It is a good store, but still I insist, for computers I would choose the Plaisio stores...

 

[kostya]

I like the style of the #1 post of the thread and the name, like we have a construction boom and building scrapers (reminds of other sub-forums)

I bought my fridge from a Media Markt

 

[gm2263]

Oh c'mon Kostya. There is no way Giorgos would have known what is under construction there.

Still, I feel compelled to make the observation that there are many empty plots of land there for years. Now, it may well be that their owners are waiting for a change in the construction laws... Otherwise, there's still space to be built, tall hopefully...

 

[Giorgio]

Im trying to get the forum organised so we can show atleast the developments in North Athens! When I read the profile I thought it sounded really nice and I love the Babis buildings.

 

[gm2263]

We need some organisation, yeah. The problem is that there are many nice buildings still uncharted, on the other hand, nothing really sizeable was added to the city after the Olympics. I am waiting for news desperately too. I wouldn't like to bombard this forum with all the new 3 to 6-storey buildings in Athens,while at the same time, I don't want to fall into the trap many others have fallen into in other forums with presenting the same things over and over again ad nauseam. People do not like repetitions.

However, if someone could for instance to take pictures of the buildings of the "Polis" complex by Babis Vovos, that would be nice. Ther pics I have are all old, I may have to go there for an update.

Overall, I am still waiting guys...

 

[kostya]

Πάντως μεγάλες πολυεθνικές σπάνια ενδιαφέρονται για το design των κτηρίων τους... βλ. Lidl, Carrefour, Media Markt etc. Θα μου πείτε δεν χρειάζονται και τίποτα ιδιαίτερο μιας και εξυπηρετούν τον σκοπό για τον οποίο χτίστηκαν μια χαρά αλλά φανταστείτε να ήταν πιο προσεγμένα τα κτήρια, σαν το The Mall (Ξέρω δεν είναι το ίδιο αλλά...)

 

[gm2263]

The ones you mention are retail stores and thus, their architecture tends to be minimal, compared to, say the one of office buildings.

For the particular area, the story is not over yet. Next to the "Media Markt" is anothet plot of land that was occupied by a private school. Now to my understanding, Vovos owns this one too. What is going to happen, I really don't know as believe it or not, the nearby (that's a relative term there, but nevertheless) NIMBYs managed to extract a decision by the Council of the State to ban the construction of more commercial buildings on Kifissias Avenue as a whole.

Now, on the other hand, I reckon that the developers did not say the last word, and wait for the renewal of the constitution which is expected to come to the parliament next autumn. So, all new construction in the area (apart from a couple of four storeys in the sideroads that have already their building permits) is suspended until the situation is cleared.

And, I expect that the Council of the State may see its authorities in the near future clipped since in the past they have endorsed even the most irrational NIMBY demands, putting into jeopardy some Olympic works or other works for which everything was perfectlly legal. It is a matter of state policy, you see. Making a decision on a legal controversy is one thing. Interfering with the state affairs and policies is more serious. And the current minister of Public works, Mr Souflias was clear on the matter: The new master plan (ρυθμιστικό σχέδιο ) does take into account the character of Athens as a regional metropolitan and financial centre.

So, we still have news to see...

 

[KONSTANTINOUPOLIS]

http://www.mediamarkt.gr

 

[Giorgio]

Thanks.
While you at it Kons. Please change the title to #Complete, thanks

 

[Giorgio]

gm, I had no idea NIMBYS existed in Greece let alone them being so bad. They sound even worse than the ones in Adelaide. Im sure Rev Agrees that the Adelaides ones where the worst....until I hear your stories.

 

[Maccabi]

Hey guys are you serious????You opened a thread to discuss about a 2-storey building????????IT'S A SHAME!!!In other countries they even ignore 100m buildings and here...


Aren't new buildings buing built here?Is something speciasl needed in order to start building something new???

I think you really need a highrise!!!If I wewre a minister I would built one at my one cos I see you really really want at least one!

 

[KONSTANTINOUPOLIS]

@ Gioяgos, done.

@ Maccabi, calm down.

 

[Maccabi]

oh no!I didn't mean to insult you.It just sounds a bit strange to me.Athens is a beautiful city at all.

 

[Giorgio]

@Maccabi:
Before posting anything else in the Greek forum, please refer to this thread:
http://www.skyscrapercity.com/showthread.php?t=216281

@Konst.
Thanks, :cheers:

 

[gm2263]

Actually, we should all read what we write above. There may be more development in the same plot, it is that the building codes have to be clarified. Obviously, Babis Vovos were looking for more development but the building codes there are under reconsideration. Once their status is being clarified, they may proceed accordingly.

And Macabbi, if you really want to see what Kifissias Avenue (in case you haven't been there yet) looks like just click here.


http://skyscrapercity.com/showthread.php?t=187184

 

[KONSTANTINOUPOLIS]

[QUOTE='[Gioяgos]@Konst.
Thanks, :cheers:[/QUOTE]
kay:

 

[Giorgio]

Actually, we should all read what we write above. There may be more development in the same plot, it is that the building codes have to be clarified. Obviously, Babis Vovos were looking for more development but the building codes there are under reconsideration. Once their status is being clarified, they may proceed accordingly.

Wait, so are the hieght limits likely to be lifted in Maroussi in the very near future?