Stand alone building, (91, Giannitson street, WEST Entrance Thessaloniki) available for sale

  • Commercial, Investment, Residential
  • Property Type
  • 27/5/2022
  • Property Publish Date
For Sale Residential

Stand alone building, (91, Giannitson street, WEST Entrance Thessaloniki) available for sale


  • Commercial, Investment, Residential
  • Property Type
  • 27/5/2022
  • Property Publish Date


Cerved Property Services & DANOS – an alliance member of BNP PARIBAS REAL ESTATE (“ΔΑΝΟΣ”) is pleased to present you a separate property suitable for commercial, professional or residential development, which is available for sale.

  • It is a Stand Alone building of a total area of ​​7,560 sqm, within a plot of 2,645.19 sqm, of particularly imposing industrial type architecture.
  • The building is located at 91, Gianniton street, a location that ensures visibility & excellent accessibility in the center of Thessaloniki & on the main city roads.
  • Multiple scenarios development of the property, ideal for private use and / or exploitation & future disposal to one or more users, depending on the use that will be chosen by the investor.
  • The property is in good maintenance condition and has special architectural elements that emphasize its grandeur and underlines the natural light that illuminate all the areas.

It is an imposing Stand Alone building with a total area of 7,560 sqm. within a plot of 2,645.19 sqm., which previously operated as a tobacco warehouse. The building was built in 1964 and is developed on six levels, with an area of 1,260sqm. each (basement, ground floor and four standard floors). It is available for immediate use and is suitable for any professional / hotel use, with multiple possibilities for residential re-development, such as an apartment building.

Levels Surface (sqm)
Basement 1.260,97
Ground Floor 1.260,97
1st Floor 1.260,97
2nd Floor 1.260,97
3rd Floor 1.260,97
4th Floor 1.260,97
5th Floor 400,00
Total 7.965,82

The load-bearing structure of the building is reinforced concrete and the masonry is made of brick. In the building we find two staircases, one on Giannitson Street (which it only connects the ground floor with the 1st floor) and one at the back of the building. We also find the  freight elevator.

Sale Price: 3.950.000 €

The property is located in a dense building area, which includes business uses & hotels, on the west side of the city.

In the last 2 years the area demonstrates significant remodeling, due to its proximity to the center of the city and its easy access.

More specifically, the building is located:

  • 19 Klm from Macedonia airport
  • 3,5 km from Aristotelous Square
  • 2 km from Thessaloniki Court House
  • 1,3 km from the city’s Railway Station
  • 800 m from the new building of the Region of Central Macedonia
  • 500 m from the discount shopping center ONE Salonica

Thessaloniki: Market Mapping

Western Thessaloniki

Offices: €8- 14 / sqm

Yield 7,0 – 7,50%

Residential: €1000- 1500/ sqm

Strong demand for independent buildings, residence for exploitation. The demand mainly concerns offices and hotels, as well as residential buildings for exploitation (student dormitory) due to the proximity & the easy access to the center.

Thessaloniki city center

Offices: €8- 15 / sqm

Yield 7,0 – 7,50%

Stores: €50-120/ sqm

Yield 6,0-6,50%

Strong demand for independent buildings, residence for exploitation. Office & retail.

Small offer, old buildings,


Eastern Thessaloniki

Offices: €8- 12 / sqm

Yield 7,5 – 8,00%

Residential : €1500-3500/ sqm

Strong Demand for offices, residence. Reduced demand for retail developments & hotels

Increased Demand for office space

The Demand is largely focused on properties with quality features. The bioclimatic offices sector (with LEED, Well certifications, etc.), the logistics sector of high standards and the premium homes sector concentrates the most lively interest.

Rental Increase

Despite the slowdown in absorption during the Lock Downs, the main market segment did not suffer from the crisis.

In many markets, the basic rental values are now even higher than before the outbreak of the pandemic.

Yield Compression

Following the stabilization of 2020, prime office space yields fell again from 2021, as across Europe. The returns of the prime stores also froze and are now being squeezed but only in selected markets (mainly in the city center). Strong yield compression is also observed in prime logistics properties in Athens & Thessaloniki.

Investments Increase

In 2021, the investment sector entered a recovery trajectory, especially with regard to hotel units, commercial real estate and high-standard housing.

Foreign Direct Investment reached almost 1.17 billion euros in inflows for the real estate market, showing an increase compared to 2020. The upward trend continues in 2022.


For Cerved Property Services,                                                                                            

Ioannis Maleganos


Agency Division

Nothern Greece

Cerved Property Services

10, Syggrou & Valaoritou street

GR 546 25 Thessaloniki,

T +30 2316071718

e-mail: ioannis.maleganos@cerved


For Danos,

Karapiperis Stelios

Head of Research & Negotiation Division|

κ.:+30 6948 073429|


Paschalidou Fofi

Manager of Thessaloniki office|

κ.:+30 6946 509541


4, Ionos Dragoumi street,

546 24, Thessaloniki

Τηλ: +30 – 2310 244962,3

Fax: +30 – 2310 224781


  • Property Type: Commercial, Investment, Residential
  • Property Status: For Sale
  • District: Thessaloniki
  • Region: Macedonia
  • Property Publish Date: 27/5/2022

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