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Shacolas Tower Sold to Bank of Cyprus

Posted on: 2/8/2018 6:54:18 AM under General News
Woolworth Properties PLC has agreed to sell three properties to Bank of Cyprus subsidiaries. In particular, the deal concerns the well-known Shacolas Tower on Ledra Street, Superhome Center (DIY) department store in Strovolos and Debenhams Apollon in Limassol for a total price of €44 million.

According to an announcement made by Woolworth Properties on the Cyprus Stock Exchange, its subsidiaries Estelte Ltd and Calandra Ltd have agreed to sell three of their properties to Ravenica Properties Ltd, Wiceco Properties Ltd and Arleta Properties Ltd (subsidiaries of Bank of Cyprus):

• The property, known as Shacolas Tower, on Ledra Street in Nicosia, owned by Calandria Ltd (the biggest part of which is being rented out to H&M), was sold to Ravenica Properties Ltd.
 
• The property in Strovolos, owned by Estelte Ltd, (which currently hosts Superhome Center (DIY) Ltd – subsidiary of Ermes Department Stores Plc) was sold to Wiceco Properties Ltd.
 
• The property in Limassol, owned by Woolworth Properties (which is currently being rented out to the affiliated company Ermes Department Stores Ltd and operates in the Debenhams Apollon department store) was sold to Arleta Properties Ltd.

As reported in Gold News.