Old Post Office sold for 5m GEL at state auction:
New 30-room hotel coming to historic building

Tbilisi Post Office before renovation. Photo by N. Alavidze/Agenda.ge.
Agenda.ge, 01 Nov 2016 - 15:50, Tbilisi,Georgia

A multi-million dollar hotel is coming to an iconic 100-year-old Georgian Post Office building in central Tbilisi - capital of Georgia.

The three-storey building located at 44 Aghmashenebeli Ave was sold for 5,750,001 GEL (about $2.3 million/€2 million*) at the state auction announced by the National Agency of State Property of the Ministry of Economy in October 12.

Local company Nevada was now responsible for transforming the former Post Office building into a 30-room hotel.

On the transferred property within no more than 36 months after obtaining construction permit documents, but within no more than 42 months after signing the proper agreement, the person is obliged to build no less than a 30-room hotel, bring into exploitation, equipping and operation,” read the conditions of sale.

During the past several years the 100-year old building has remained unoccupied. This year the building was included in the list of 50 properties that were due to be transformed into the hotels, within the ‘50 Real Estates for Your Hotel state program.

The building's roof still featured the Georgian title 'Postamti', meaning post office. Photo by N. Alavidze/Agenda.ge.

Nevada must now invest at least 5.3 million GEL (about $2.20 million/€2 million*) in opening 30-room hotel in the former Post Office building, stated to the conditions of sale.

In addition, an exhibition hall and space where the Georgian National Tourism Administration can be represented must be included in the new building.

The former Georgian Post Office was one of 45 building on Aghmashenebeli Ave recently renovated within the 'New Tiflis' project. The project aimed to boost the economy, develop tourism and contribute to the well-being of Tbilisi’s residents.

Follow the link and take a look at Tbilisi’s historic street and see how it changed after the major restoration within the 'New Tiflis' project.

*Currencies are in accordance with the latest National Bank of Georgia exchange rate.