After a year on the shelf, businessman Teddy Sagi is realizing two properties he owns in London for NIS 1.5 billion (£ 355 million), NIS 100,000 less than he hoped to achieve for them – and still a respectable amount.
In fact, Sagi is earning 85 million pounds, which is about 360 million shekels. On the two properties together he paid a total of 270 million pounds in 2018: the larger profit is on the smaller property of the two, in an area of 7,600 square meters – the Beit Labs office building bought for 70 million pounds and sold to the German AM Alpha for 115 million Pound, a difference of 64% and in the amount of NIS 190 million.
The other is the 18,300-square-meter 90 High Holborn office tower, which was bought for 200 million pounds and sold for 240 million pounds to a company called Axa IM, which will pay 240 million pounds (NIS 1 billion). This is a gap of 20%, and amounts to NIS 170 million. The sale is made through LabTech Investment, which is owned by Sagi.
Comments on the article(0):
Your response has been received and will be published subject to system policies.
Thanks.
For a new response
Your response was not sent due to a communication problem, please try again.
Return to comment
.