The purchase by the Ministry of Culture and the transfer by the National Bank of Greece of the industrial complex at 260 Piraeus 260 (former Tsaousoglou Factory) was completed. This is an agreement and an act of key importance for the promotion of the area of Eleonas as a cultural pole. The purchase of the property was financed by the Recovery and Resilience Fund. It is an area of 31,687 square metres, within which are 15 buildings, most of which have been designated as monuments.

As the Minister of Culture Lina Mendoni said, “Since 2000, the Ministry of Culture has been discussing with the National Bank of Greece the purchase of the property at 260 Pireos Street. Finally, the process was completed a few weeks ago, after four years of negotiations, overcoming numerous bureaucratic procedures, but also of close cooperation with the relevant departments and the management of the National Bank. Had it not been for the 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 the former Tsaousoglu Factory, in addition to the Athens Epidaurus Festival, which will obviously continue to be housed in the area.Already, the international tender by the Cultural Resources Management and Promotion Agency for the restoration and conversion of an industrial shell into a modern, functional and safe building to accommodate various activities of the Agency is underway. By preserving the character of the building, we are giving new life to a historic monument of industrial architecture of particular social and technological interest. In the case of the property at 260 Pireos Street, we are serving our policy of restoration and new uses for buildings owned by the Ministry of Culture, through the upgrading of these properties we are contributing to the regeneration of the historic centre and individual areas of Athens”.

National Bank of Greece CEO Pavlos Mylonas said: “The National Bank of Greece has always supported the promotion of our country’s culture. Since 2011, the Bank has been granting the use of part of the Piraeus 260 property for the needs of the Athens Epidaurus Festival, contributing to the effort to create a pole of cultural uses in the wider area of Elaionas. The transfer of the property in December 2023 is an example of the excellent level of cooperation between the National Bank and the Ministry of Culture.”

The property at 260 Pireos Street used to house the premises of the Tsaousoglou furniture factory. The Ministry of Culture, with successive declarations in 2000 and 2001, designated the buildings of the property as historical monuments, requiring special state care, recognizing that they are a remarkable example of industrial constructions, are characteristic elements of the architectural and industrial physiognomy of Piraeus Street in the early second half of the 20th century, and consequently, are of significant social and technological interest.