House of Four winds handed over to BOV

The historical building was handed over to the bank two weeks ago, secretary Jason Azzopardi, parliamentary secretary for Lands and SMEs, announced in an interview with MaltaToday.

According to the junior minister, the building has been allocated to BOV to compensate the bank for the loss of its present premises next to the Valletta police station in South Street, which will be demolished as part of the Piano City Gate project.

According to Azzopardi, the bank’s premises will be demolished to make way for a small square which will serve as a main entrance to the Auberge d’Italie, as was originally the case at the time of the Knights of St John.

But the government will not be revising the rent paid by the bank after it takes over this historical site from government.

“The government has offered the House of Four Winds according to the same conditions prevailing at the present BOV premises which is rented from the government on a lease which expires in 2040,” Azzopardi said.

BOV will be investing a “seven figure sum” in restoring the building to transform it in to a “flagship chairman’s office.”

Dr Jason Azzopardi, parliamentary secretary for Lands and SMEs, was the last junior minister to occupy the House of Four Winds.

Earlier this year, Azzopardi moved to Cavalier House in Old Mint Street, which forms part of the Finance Ministry’s block of buildings.