The purchase by the Ministry of Culture and the transfer by the National Bank of the industrial complex at Piraeus 260 (formerly Tsaoussoglou Factory), with an area of ​​31,687 sq.m., including 15 buildings, has been completed, with most of them designated as monuments. As the announcement of the Ministry of Defense informs, this is an agreement and act of pivotal importance for the promotion of the area of ​​Eleonas as a cultural hub. The purchase of the property (12,600,000 euros) was financed by the Recovery and Resilience Fund.

“Since 2000, the Ministry of Culture has been discussing with the National Bank the purchase of the property at Piraeus 260. Finally, the process was completed a few weeks ago, after four years of negotiations, overcoming a lot of bureaucratic procedures, but also a good cooperation with the competent services and the Administration of the National Bank. If there was not a strong will on both sides to complete the process, the acquisition of the property would not have been achieved. Our goal is to create a strong cultural pole in the industrial complex of Fr. Ergostaios Tsaoussoglou, beyond the Greek Festival, which will obviously continue to be housed in the area”, said the Minister of Culture Lina Mendoni. He added: “Already, the international competition by the Organization for the Management and Promotion of Cultural Resources is underway for the restoration and transformation of an industrial shell into a modern, functional and safe building, to accommodate various activities of the Organization. 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, through the upgrading of these properties we contribute to the regeneration of the historical center and individual areas of Athens”.

The managing director of the National Bank Pavlos Mylonas said: “The National Bank has always supported the promotion of the culture of our country. Since 2011, the Bank granted the use of part of the Piraeus 260 property for the needs of the Athens Festival, contributing to the effort to create a pole 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”.

As the announcement of the Ministry of Foreign Affairs notes, the property at 260 Piraeus Street used to house the facilities of the Tsausoglou furniture factory. The Ministry of the Interior, with successive declarations in 2000 and 2001, characterized the buildings of the property as historical monuments, in need of special state care, recognizing that they are a remarkable example of industrial constructions, they are characteristic elements of the architectural and industrial physiognomy of Piraeus Street at the beginning of the second half of the 20th century, and consequently, have significant social and technological interest.