Greece selling off diplomatic residences

Greece selling off diplomatic residences

It’s not just islands, the Greek foreign ministry is holding a firesale of diplomatic property, reports the Guardian:

On Wednesday, the nation learned the downsizing would also include diplomatic residences abroad – starting with the Victorian townhouse that was once the Greek consul general’s residence in London.

"There is a decision to lease and sell properties that for various reasons are not being used," said Gregory Dalevekouras, spokesman at the foreign ministry. The foreign ministry’s finance department, he said, was hard at work evaluating "market conditions".[…]

High-end estate agents are already being sounded out to sell the 10,000 square foot consular residence in London’s upscale Holland Park – which is currently being renovated. Property experts say homes similar to the 115-year-old stucco-fronted townhouse fetch rents of around £25,000 a week and could sell for as much as £12m. Richard Branson, a neighbour, put his own home on the market for £17m last year.[…]

The sell-off, which will include buildings in Brussels and Belgrade, Rome and Nicosia, is part of a privatisation campaign that may well be the most ambitious ever conducted on the continent of Europe

The former residence of the Greek royal family is also up for sale. 

Earlier this year, Washingtonian oggled some of the premium diplomatic property owned by struggling European countries in D.C. I remember back when we used to shake our heads at failed states doing this kind of thing.