Ministry of Culture acquired the Piraeus 260 industrial complex from the National Bank

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It will be restored and made available for cultural use.

The industrial complex of Piraeus 260, where the former Tsaoussoglou Factory was housed, became the property of the Ministry of Culture. The total area of ​​31,687 sq.m., with its 15 buildings, most of which are designated monuments, was purchased by the National Bank for 12,600,000 euros - an amount covered by resources of the Recovery Fund - to restore and be used for cultural purposes.

"Since 2000, the Ministry of Culture has been discussing the purchase of the property at Piraeus 260 with the National Bank. Finally, the process was completed a few weeks ago, after four years of negotiations, overcoming many bureaucratic procedures, and good cooperation with the competent services and the Administration of the National Bank," said the Minister of Culture Lina Mendoni.

"If there had not been a strong will on both sides to complete the process, the purchase of the property would not have been achieved," she said, adding: "Our goal is to create a strong cultural pole in the industrial complex for the Athens Festival, which will obviously continue to be housed in the space."

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The Minister of Culture, Lina Mendoni, with the Managing Director of the National Bank, Paul Mylonas

The Minister also informed that the international competition by the Organisation for the Management and Promotion of Cultural Resources is already underway for the restoration and transformation of an industrial shell into a modern, functional and safe building to host various activities of the Organisation.

She noted, "By preserving the character of the building, we are giving new life to a historical monument of industrial architecture, with particular social and technological interest. And with the case of the property at 260 Piraeus Street, we serve our policy of restoring and giving new uses to buildings owned by the Ministry of the Interior; by upgrading these properties, we contribute to the regeneration of the historic centre and individual areas of Athens."

For his part, the CEO of the National Bank, Paul Mylonas, stated: "The National Bank has always supported the promotion of the culture of our country. Since 2011, the Bank has granted the use of part of the Piraeus 260 property for the needs of the Athens Festival, contributing to the effort to create a hub of cultural uses in the wider area of ​​Eleonas. The transfer of the property in December 2023 is an example of the exceptional level of cooperation between the National Bank and the Ministry of Culture."

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