Limassol's historic Thalassaki café has ultimately been awarded to the second-highest bidder rather than the highest. Acting as the tender board, Limassol Municipal Council determined that the bid meeting all tender requirements, and therefore deemed successful, was the second-highest offer submitted by KTIMA DEMOSTHENOUS LTD.
The successful bidder submitted an offer of €796,260 for a five-year period, with the option of a further five-year renewal at a 6% increase, as stipulated in the tender conditions. The amount translates into a monthly rent of €13,271.
The highest bid, submitted by KASPINAS GROUP LTD, amounted to €1.26 million in total, equivalent to €21,000 per month.
Tender conditions not met
According to Politis information, the opening and evaluation of bids by the municipal council's tender committee found that KASPINAS GROUP LTD failed to comply with two tender requirements.
The shortcomings were primarily linked to demonstrated experience in hospitality establishments with a specified turnover level, while the company was also unable to provide certain other required documentation.
As a result, its bid was deemed invalid and excluded from the process.
Several other bids were also declared invalid after failing to satisfy the tender conditions.
Work expected to begin immediately
The successful bidder is now expected to begin the necessary works without delay in order to bring the café into operation as soon as possible.
