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Reduction of rent by 30%, the group seeks Piraeus (through its subsidiary Picar) for CityLink mansion which belongs to the Army Pension Fund. H major crisis affecting trade and especially the city center, leaves scars and major department stores such as CityLink which passed in 1999 at the hands of the Piraeus Bank, which manages it until 2052. Despite the impressive start of this great commercial center, the data have changed dramatically and now it's time for negotiations to reduce rents. According to reports the manager Picar has asked the owner, the Army Pension Fund to reduce the rent by 30%. The basic reason for this request is of course the pressure from traders who have shops on CityLink to reduce rents. Substantially from the dominant courier gazette center, Attica Department Store which leased approximately 25,000 courier gazette square meters. Other tenants are theaters "Pallas", "Alice" and "Little Palace", the Health Club Spa Holmes Place Athens, and luxurious dining (Zonar's, Clemente, Pasaji). Attica Department Store have been affected by the dramatic drop in turnover in the center and ask for a reduction of rent, however, reportedly may seek reduction of the space uses, ie hires fewer square meters. If this happens, then they will stay empty spaces courier gazette why Picar should seek new tenants. The request for negotiations rents side Piraeus mobilized Army Pension Fund which was hired as a consultant Attica Bank for the building and the next few weeks would be no contact between the two sides to find a modus Vivendi. It is worth noting that the Attica department store that operates CityLink at 8 months had sales of 54,1 million, down 10% compared to the same period last year. Dramatically better going the department store company in the Golden Hall which has a fixed volume despite the crisis. This unique property of the Army Pension Fund, passed after contest in the hands of Piraeus in 1999 and invested around 250 million euros for the reconstruction started in 2003. Information indicates that the agreement for the concession for 50 years spoke for an annual rent of around 7 million adjusted every year. The building has 6 floors and a total of 65,000 sq.m. and covers the block between the streets Stadium, Bucharest University and America. Source www.ered.gr
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