Companies buying non-performing loans in Cyprus are also getting ready to sell millions in real estate in July. Up until now, commercial banks were the ones announcing auctions but recently-licensed companies by the Central Bank of Cyprus are following suit.
On July 15, Gordian Holdings Limited are to auction a plot of land of 1,255 sq. metres in Agios Dimitrios area, in Strovolos, worth €5 million. That was where the Cyprus Agricultural Payments Organisation used to be. The Central Bank’s website has Bank of Cyprus’ headquarters as those of Gordian Holdings Limited whose Managing Director is Nick Smith. Up until recently, he was the head of Bank of Cyprus’ restructuring and recoveries division.
Also on July 15, the same company will auction a plot of land of 595 sq. metres at Platy, Agladjia, at the price of €964,400. As well as a plot of land of 521 sq.m. at Ayioi Omologites area in Nicosia at the price of €461,200. And on July 17, a plot of land of 549 sq. metres in Makedonitissa area will go under the hammer for €928,000.
At the same time, Bank of Cyprus will auction a plot of land of 2.106 sq.m. in Engomi at a reserve price of € 1,026,000 on July 15. On July 9, Altamira will auction a two-storey residence in Strovolos, Ayios Vasilios area, at the price of €1,275,000. On June 25, Hellenic Bank auctions a field of 4,376 sq. metres in Aglatzia at the price of €779,850 and a plot of land of 576 sq. metres together with a three-storey house of 390-400 sq. metres in Platy, Aglantzia, at the price of €587,500.
Moreover, Bank of Cyprus is auctioning a ground floor residence within a plot of land of 475 square meters at Trypiotis area, old Nicosia, at the price of €764,000. At the same time, Gordian Holdings are auctioning a shop there with a mezzanine area of 53 sq.m. at the price of €88,800.