Insider Business First six state services to move into ex Co-op bank buildings

First six state services to move into ex Co-op bank buildings

Cabinet yesterday gave the green light for the first six state services to move into buildings owned by the now defunct Cyprus Co-operative Bank.

These are the Limassol-based technical university TEPAK, the Natural Gas Public Company (DEFA), Personal Data Protection Commission and Citizen Service Centres, according to daily Phileleftheros.

The allocated six buildings are estimated to be worth over €10 million, and following the collapse of the lender they came – along with many more –  under the administration of KEDIPES (the state-owned Cyprus Asset Management Company).

Specifically, a Citizens Service Centre will be housed at the basement of the former district office of Co-op Bank in Limassol, situated on Gladstone Street and worth some €3.1 million. And Statistical Service departments will be housed at the other floors of the impressive building.

At the same time, the former Limassol Co-operative Savings Bank will house the Cyprus University of Technology (TEPAK). The building is worth €1.6 million.

In Paphos, a Citizens Service Office will be housed at the former Geroskipou Co-op bank. The building’s estimated value is €1.27 million. In Nicosia, the Pizza Hut building on Aglantzia Avenue whose value is estimated to be €2.5 million will house DEFA’s offices. The store and the mezzanine of the building are rented out to third parties.

The office of the Personal Data Protection Commissioner will move to the former Co-op bank of CYTA employees building in Nicosia worth €1.1 million.  And the Statistical Service in Larnaca will move into the Sotira district former Co-op bank premises worth €500,000.

Big Municipalities and local authorities are also keen to get allocated former Co-op bank property for which the

In addition to the State’s interest to house ministries and other government services at former Co-op bank properties, big Municipalities and local authorities are eyeing a number of premises.

A Technical Committee made up of the Permanent Secretaries of the Ministries of Finance, Interior and Transport, has prepared a report on their decision in regard to Co-op property demands made by municipalities and communities.

 

Read more:

https://in-cyprus.com/thousands-of-co-op-bank-properties-could-be-sold/

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