PREMIA PROPERTIES announces the sale of a winery with total leasable area of 2,211m2 on a land plot of 23,014m2 in Megalochori Santorini to Ktima Alpha.
The sale price is €6.5m while the fair value of this property as at 30.06.2023 was €4.1m. The total realized profit of this transaction following selling expenses and lease termination penalty amounts to €1.5m and will be recognized in the financial results of Q3 2024. The property was free of encumbrances and the cash proceeds will further support the Company's investment plan.
The sale process was concluded with the agreement of Boutari Wineries S.A. to terminate the lease. Boutari Wineries S.A. continuous its winemaking activity on the island through the lease of vineyards on a 60,000m2, land plot in Faros-Akrotiri /Seladia.
Image source Pexels.
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