For Sale 515 M2 Invest Opportunity In The Heart Of Athens

Property Code: 1-1147 - House FOR SALE in Kentro Palia Vouli for € 1.500.000 . This 515.00 sq. m. House consists of 4 levels and features 6 Bedrooms, 2 Livingrooms, 2 Kitchens, 4 bathrooms . The property also boasts mosaic and wood floor, unobstructed view, Window frames: Wooden, a storage unit sqm, fireplace, ceramic roof, open space, internal staircase. The building was constructed in 1890 Plot area: 300 s.q. . Building Energy Rating: G Distance from sea 15000 meters, Distance from nearest airport: 35000 meters, Nearest metro station at 400 meters. Unique Boutique Hotel Development Opportunity in Historic Athens

A rare investment opportunity involving a historic listed building together with the neighboring similar heritage property, ideally suited for the development of two boutique hotels in the heart of Old Athens.

The properties require renovation; however, a complete business plan and architectural development proposal are already in place and available to serious investors upon request.
Contact us privately to receive the full investment dossier and detailed project information.
Located in a prime area near the central market and only a 6-minute walk from Monastiraki, this exceptional neoclassical building was designed by the renowned architect Ernst Ziller.
The ground floor still hosts a traditional taverna operating continuously since the interwar period, preserving the authentic character and historical atmosphere of the property.
Immediately adjacent stands a second similar listed building, creating a unique combined hospitality development opportunity. Together, the two properties are exceptionally suitable for tourism investment as luxury boutique hotels.

A complete architectural and feasibility study has already been prepared by a professional architectural consultancy office.
The project includes approved potential for additional construction, exceptionally permitted under the relevant Government Gazette (FEK) with special building regulations. This represents the key added value and strategic advantage of the investment.

According to the completed study, the total buildable area can be expanded to approximately 2,250 sq.m., while the existing buildings currently measure 515 sq.m. and 560 sq.m. respectively. The proposal allows for the addition of three extra floors using a modern steel structure system, creating a project of outstanding architectural aesthetics that harmoniously combines contemporary design with the historical identity of the buildings.
The development preserves the heritage character of the properties while significantly enhancing the surrounding neighborhood, which is already undergoing rapid and high-quality redevelopment.

The area is attracting substantial investment activity:

A former hotel directly opposite has already been fully renovated and now operates as a successful 3-star hotel.

The old school building on the corner is being transformed into a modern Airbnb apartment complex.

A neighboring multi-story building has been leased to a private investor for the next 50 years and is currently under renovation to become either a hotel or luxury serviced apartments.

Another nearby property facing the square, next to a large underground parking facility, has also been sold and is planned for hotel conversion.

The entire district is entering a new phase of dynamic development, making this the ideal time to invest.
In cooperation with a specialized financial consultant, a comprehensive business plan has been prepared following extensive research into:

Tourism traffic and visitor demand in the area

Occupancy and booking performance of nearby accommodations ,Average room and rental rates,    Annual reservation trends

Food & Beverage consumption, 

Additional hospitality revenue streams

The study projects a secure annual return exceeding 10% for the investor, after acquisition costs, renovation expenses, and operational costs of the Boutique Hotel and Bar/Restaurant business.

Private presentations and meetings are available at our offices in Athens, Kifissia, Peloponnese, Hydra, or Spetses.
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