Israeli investors are buying up London
It seems that London is proving an attractive destination for Israelis who like shopping — for property.
Investor Igal Ahouvi has returned to the UK market with a £55m coup. Ahouvi has exchanged contacts to buy 50 per cent of the rights to five office buildings in Solent Business Park in Hampshire from Goodman. The other 50% was bought by an unrelated third party. The price paid is thought to reflect a yield of 7.75 per cent, according to Property Week. The properties, which total more than 250,000 sq ft, are let to National Air Traffic Services. Ahouvi is buying in Britain because he believes the opportunities are better than in Europe. Last year, he bought a B&Q warehouse in Doncaster for £25m.
Meanwhile, Nochi Dankner, one of Israel’s wealthiest men and who controls Property and Building, is reportedly in talks to buy a stake in British Land’s Broadgate for £100m. The office complex, whose tenants include UBS, is by Liverpool Street station.