Vytina Xenia
Greece, Arkadia, Vytina.
Vytina Xenia

Property

Description

Area

Buildable Area

Existing Infrastructure

Investment Proposal

Near

Vytina Xenia

Mountain site, Property with a listed building and the option to expand

37,500 sqm

Up to 3,905 sqm

Vacant hotel facility, 1,223 sqm, listed building

Architect: Aris  Konstantinidis

Hotel & Holiday Resort/Residences
Coaching tourism

Vytina village, forest 

 

Location

The property is part of the Municipality of Gortynia at the Arkadia department of the Region of the Peloponnese. Gortynia is a complex of beautiful and historical villages, such as Dimitsana, Stemnitsa, Lagadia, Levidi, Valtetsiniko and Vytina, a place of distinctive natural beauty at Mount Mainalo.

The property is located at the area of Kambea or Kaminia of the former community Kato Magouliana of Vytina.  Vytina is a popular winter destination of the Municipality of Gortynia, situated at a 1.000 m altitude of Mount Mainalo. It is surrounded by spruces, pines and chestnut trees.

Mount Mainalo skiing center, 16km away from the property, is one of the two operating in the Region of the Peloponnese, while the Mainalo trail of 75 km and 8 routes/parts, is the first certified trail of the European Ramblers Association. Close by Lucios small river and its small canyon can move even the most fanatic city lovers with its magical sceneries and natural beauty. Ladonas river with its 55m canyon is also in vicinity.

Map depicting isochrone curves for overland access for the time/distance at 30, 60, 90, and 120 mins from the property.

Description of the Property

The Vytina Xenia property is located on a plot of 37.534,00 sqm of which 18.011,56 sqm is a part of a forest. The building is a former hotel consisting of two separate structures on the tilted part of the plot facing the road.  One building, has two levels, a flat roof, is of orthogonal shape and hosts the guests’ rooms.  The second one, pi-shaped is sporting a tile-roof, accommodates all the additional spaces of the hotel and the staff rooms. The buildings are of a total area of 1.223,00 sqm.

The whole complex has been designated to be preserved as traditional, due to its distinctive architecture designed by the architect Aris Konstantinidis and is part of the portfolio of the Xenia Hotels all around Greece.  The Xenia of Vytina has a total capacity of 20 spacious rooms and 40 beds.

The property has and additional building capacity of 2.681,49 sqm.

Infrastructures

The main road access to the property is through the Tripoli – Pyrgos National Highway via Ancient Olympia and Vytina. The area of the property borders to the north with the Old Tripoli – Pyrgos National Highway (currently ‘Bypass’) to a length of 105.68m. Vytina is accessed easily through the Korinthos – Tripoli National Highway passing the Artemisio tunnel. Both these main road axes and all others that interconnect with them are in satisfactory condition.

The property is located 189 km away from Athens (2h and 17min drive) and its "El. Venizelos" International Airport and 138 km from Kalamata (1h and 37min drive) and "Captain V. Konstantakopoulos" airport. Also efforts are made for the Tripoli’s military airport which is located just 50km away from the property (48min drive), to be transformed to a civil airport.

Due to its central positioning on the mountainous complex of the Peloponnese, there is no nearby port/ harbour and so Vytina is serviced mainly by the Nafplio harbour to the east and secondarily by Patra to the northwest and, by Pireaus to the northeast.

Equally, there is no direct train service in the area as the most convenient station is at Korinthos (quite distant by car or bus). If the former Korinthos – Argos – Tripoli line is reactivated as institutional discussions evaluate relevant possibility,  it would serve the property’ s access by train, even more, the future construction of the line Korinthos – Tripoli would do so.

The area has electricity and telecommunication networks. The area is served by a water distribution system and a sewage system but does not have a Sewage Treatment Facility.

The Region’s new waste management facility public-private partnership contract, is expected to be signed within spring 2018.

Climate

The climate is mountainous with mildly warm and rather dry summers and relatively cold winters with ample rainfall and snow.  Temperature in the property area averages from 22oC to 24oC during summer time and 0.9oC to 2.8oC during the winter. The area is rather sunny, averaging from 5h per day during winter time and 11h per day during the summer.

Monuments and Other Places to Visit

In Vytina, the visitor can walk the tree-covered alley "Street of Love", visit the Vytina library, its People’s History Museum and the quarry producing the black marble, admire the local carpentry and enjoy the local produce, such as dairies, pasta, honey, herbs, walnuts and pulses.

The historic monasteries of Kernitsa and Agii Theodori are in the vicinity, as is the Pafsania spring.  The two local rivers, Loucios and Ladonas, are good for canoe-kayak and rafting.

Within a 30-60min drive through the road system the visitor may choose among Ancient Tiryntha, Argos (archeological museum and ancient theater), Mykines and Ancient Corinth to the east and northeast, Dimitsana (the gunpowder "factory" that supported the War of Independence of 1821 is something definitely worth seeing!), Stemnitsa and Ancient Olympia with the authentic Olympic Games facilities to the west and Kalavryta with its two historic monasteries, the skiing resort, the Monument of the Execution and the Lakes Cave.

Investment Proposal

The investment proposal includes restoration/renovation of the existing hotel complex without substantial architectural interventions so as to preserve its esthetic value.  The internal rearrangement of the rooms is possible, uniting every two doubles to create spacious and luxurious apartments. Any such move though will have to be granted permission by the Ministry of Culture. The additional building capacity of a 2.681,49 sqm implies feasibility and satisfactory return on investment.

A study for the addition of another two-storied building, shaped as the letter "Γ" in the same architectural rhythm as the two existing ones, of a total building area of 820,00 sqm has been approved by a Presidential Act as of 1979 according to national law, fact that could facilitate an initial licensing procedure.

Investment proposal targets hotel chain owners, investors from Greece and the Diaspora focusing on mountainous Arkadia, investment funds with a track record in the tourism industry, or specialized companies of the tourism or consulting sector that could develop it and run it.

Ownership: Public Properties Company SA
Management: Public Properties Company SA

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