One of the most recognisable venues on Limassol's seafront could reopen its doors as early as this summer. The municipal tender for the long-term lease of Thalassaki has reached its final stage, with the city authorities now evaluating bids submitted by seven applicants.
Interest in the property has been exceptionally high. This comes as no surprise, as the café is located on the famous Molos Promenade, one of the busiest and most popular areas of the city, attracting thousands of local residents and tourists every year.
More Than €1 Million Offered for the Right to Operate the Café
On June 20, the tender committee opened the submitted bids. The highest offer for the five-year concession came from Kaspinas Group Ltd, which proposed €1.26 million—significantly more than any of its competitors. The second-highest bid was submitted by Ktima Dimosthenous Ltd, offering nearly €800,000. Third place went to private investor Theotia Tsiala, who offered more than €723,000.
The remaining bidders also showed strong interest in the property, although their financial offers were considerably lower. A special evaluation committee will now assess not only the value of each bid but also whether all applications meet the tender requirements. The final decision will be made by the Limassol Municipal Council.
Tender Details
One of the key conditions of the new lease agreement is the preservation of affordable prices. The municipality has set maximum prices for a number of popular drinks and products. This approach is intended to ensure that the café remains affordable not only for tourists but also for Limassol residents. The city authorities emphasise that the venue serves not only a commercial purpose but also an important social function as part of the public waterfront area. In addition, the future operator will be required to maintain high standards of customer service and overall quality.
The initial lease agreement will run for five years. The successful bidder will then have the option to extend the contract for another five years under the same terms. In the event of an extension, the rent will be subject to indexation, with the monthly payment increasing by 7%. This mechanism allows the municipality to take inflation and rising commercial property values into account. Market experts note that such long-term agreements enable investors to plan business development and invest in upgrading the facility.
Why Thalassaki Is Considered a Limassol Landmark
Thalassaki has long been part of Limassol's history. The café opened following the large-scale redevelopment of the Akti Olympion seafront, which began around 20 years ago and completely transformed the city's coastal area.
Since then, the café has become a popular meeting place for local residents, tourists, athletes, and families. Thanks to its prime location next to the sea and the promenade, it has consistently remained one of the most sought-after commercial properties in the city centre.
Today, Limassol's seafront is considered one of Cyprus' leading tourist attractions. It regularly hosts cultural events, festivals, sporting competitions, and public celebrations, making any commercial premises in this location particularly attractive for business.
When the Café Is Expected to Reopen
Limassol Mayor Yiannis Armeftis stated that he is not personally involved in the work of the tender committee but stressed the importance of a transparent selection process for the new operator. According to him, all bids are being carefully reviewed, and the tender criteria were designed to strike a balance between high-quality service and affordable prices for visitors. If the evaluation process is completed without delays and no legal appeals are filed, the café is expected to reopen before the end of July 2026.