Greece’s tax authority is seeking a new headquarters for two of its most sensitive audit and enforcement divisions in a lease deal that could ultimately exceed €50 million, highlighting both the scale of the country’s tax administration apparatus and the challenges of finding suitable office space in the Athens market.
The Independent Authority for Public Revenue, known by its Greek acronym AADE, has launched a tender for a building to accommodate its General Directorate for the Control of Economic Transactions and its General Directorate for Audits, Aid and Payments. The two departments play a central role in tax enforcement, financial investigations and the management of public support programs.
According to tender documents published by the state’s property service, the government is seeking a standalone property with a total gross floor area of roughly 22,400 square meters (241,000 square feet). The facility would include nearly 13,800 square meters of office space and more than 8,500 square meters dedicated to storage and archival functions.
The specifications go beyond conventional office requirements. The property must provide 105 parking spaces, including dedicated areas for government vehicles and for high-value confiscated vehicles awaiting disposal by the state.
Location is another key consideration. The building must be situated within 1.5 kilometers of AADE’s existing premises on Piraeus Street, one of Athens’ main commercial arteries, and within the municipal boundaries of either Athens or neighboring Moschato-Tavros. It must also be within walking distance of a rail transit station.
The technical requirements are equally stringent. The authority is demanding modern mechanical and electrical infrastructure, advanced telecommunications systems, full accessibility for people with disabilities, certified fire-protection systems and an energy-efficiency rating of at least B+. The successful bidder will also be required to undertake any modifications deemed necessary by AADE and the Greek police to ensure the facility meets operational and security requirements.
The state has capped the monthly rent at €332,500 under a 12-year lease. At that level, the landlord would receive up to €47.9 million over the life of the contract. However, the agreement includes annual rent adjustments tied to Greece’s consumer-price index after the first three years, meaning the total value could surpass €50 million if inflation remains elevated.
Bids are scheduled to be submitted on June 23 at the offices of the Property Service of Piraeus, Islands and Western Attica.
The size of the contract is likely to draw attention, but so too may the tender’s unusually narrow specifications. Finding a property that combines more than 22,000 square meters of space, over 100 parking spots, a high energy-efficiency rating and a location within a tightly defined area of central Athens may prove challenging.
That has already raised questions among market participants about how many buildings can realistically meet all of the criteria at once. Whether the conditions allow for robust competition or effectively limit the pool of potential bidders is likely to become a focal point as the tender process moves forward.
