Investors are invited to go online and bid for a tender to give new life to an iconic 100-year-old building in central Tbilisi.
Investors invited to transform old Post Office into modern hotel
Friday, October 14
The three-storey building located at 44 Aghmashenebeli Ave was initially built as a residential house but was later used as a headquarters for the Post Office, for which is is now recognised. However, for the past several years the building has remained unoccupied.
Today, the National Agency of State Property of the Ministry of Economy announced that the building is being sold via auction. The starting purchase price was three million GEL (about $1.27 million/ˆ1.15 million*), which included the starting privatisation cost of one GEL.
The conditions of sale stated the buyer must invest at least 5.3 million GEL (about $2.25 million/ˆ2 million*) to transform the building into a 30-room hotel.
An exhibition hall and space where the Georgian National Tourism Administration can be represented must be included in the new building.
The former Georgian Post Office was one of 45 building on Aghmashenebeli Ave recently renovated within the 'New Tiflis' project. The project aimed to boost the economy, develop tourism and contribute to the well-being of Tbilisi’s residents.
The original building was approved for construction in February 1913. It was commissioned by city trader David Yuzbashev and built based on a sketch by architect Alexander Ozerov. The architect earlier designed a 1905 building on today's Dadiani St that served as the Number 3 School for Girls - and the Aghmashenebeli Ave building was based on this earlier design.
The initial construction papers of the Aghmashenebeli Ave building were drafted in December 1911 - the official paperwork is currently preserved at the National Archives of Georgia.
The National Agency of State Property of the Ministry of Economy announced the auction will close on October 31, 2016 at 5pm.