Of money
Corona?
Ido Hajjaj purchased an office building in London
Hajjaj Gaia Holding, which he owns, bought another office building in central London for about £ 52 million (about NIS 233 million), and raises the value of his private commercial real estate to about NIS 700 million.
Hajjaj: "The Corona has opened up more investment opportunities in London"
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Overseas real estate
Ido Hajaj
Corona
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Business
Sunday, 08 August 2021, 08:36 Updated: 10:16
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Sources and work at home following, slightly eroded the need for office buildings and valuable, but real estate developers Israelis find it is actually a most appropriate timing for their purchase;
media recently reported that the British, the company 'Hajaj Gaia Holdings' wholly owned (100 %) Of the Israeli real estate developer Ido Hajaj, purchased a second office building in central London, England for 52 million pounds (about 233 million shekels).
This is an office building called 'Holborn Central', built above the Holborn subway station in the New Oxford area of central London England, and includes a lower commercial floor and 7 office floors.
The total area of the building is about 67.7 thousand square feet (about 7,000 square meters) and was bought from the British real estate investment company Aprirose, which bought it in March 2019 for about 40 million pounds, and invested millions of pounds in it. Added in favor of renovation.
The financing for the transaction came from Discount Bank, and the appraisal made for the English office building for this purpose is worth about 94 million pounds after another renovation.
Real estate developer Ido Hajjaj said, “Indeed, there was a report in London of the sale of an apricot property to Hajjaj Gaia Holding.
All I can say is that the Corona has opened up more investment opportunities in London. "
According to reports, Hajjaj intends to locate potential long-term tenants, and renovate the building according to their needs. Square, which gives them an average return of about 8% per year.
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Map of the London Underground.
The office building is located just above Holborn Station (Photo: ShutterStock)
Hajj Holdings in Europe
This is the second property that Hajaj's private company is acquiring in London, after in the beginning of the third quarter of 2019 it purchased an office building in Covent Garden, located at the corner of FLEET and FETTER LANE streets in central London, and contains about 2230 square meters, with additional building rights Of about 316 square meters, for about 22.8 million pounds (about 103 million shekels).
The English deals join the holdings portfolio of Hajjaj's private real estate company, when the previous deal was in July 2019, when it acquired the controlling shares of a German company that owns buildings across Germany for about 7 million euros. The same properties are mostly leased to the Saxon government. (One of the 16 countries that make up Germany) with long-term contracts, and an annual yield of about 8%.
Hajjaj Gaia Holding is located in the Netherlands and owns, in Germany and England, commercial properties with a total area of approximately 70,000 square meters, and a total value estimated by parties operating in the European real estate market at approximately NIS 700 million (approximately NIS 700 million). 189 million euros).
About NIS 240 million of which is the value of the company's assets in Germany (about 65 million euros), about 129 million shekels are the value of the company's assets in the Netherlands (about 35 million euros), and about 336 million shekels are the company's assets in London England (about 75 million pounds) - which puts the value of Ido Hajaj's private real estate in Europe at an estimated value of about 705 million shekels.
Ido Hajaj, the value of his commercial real estate is estimated at NIS 700 million (Photo: Tal Chicoral)
More big acquisitions of the group
Ido Hajaj is also one of the controlling shareholders (28.98%) and the CEO of the public real estate group Hajjaj Real Estate, which is traded on the Tel Aviv Stock Exchange to the value of NIS 927 million.
The Hajaj Group locates and purchases properties Real estate from distressed companies, for example, purchased plots of 6.5 dunams in September 2020 to build a tower of up to 44 floors in the Bavli neighborhood of Tel Aviv from Yitzhak Tshuva for NIS 190 million, and in February this year purchased another plot in the neighborhood from the Tel Aviv Municipality for approx. NIS 118 million.
The group also took advantage of the economic crisis of 2008 and during April 2009, together with the Cohen brothers (one of the founders of Yad Paz, which merged with Packer Steel), acquired about 50% of the real estate holding company Bergruin Residential, for about NIS 60 million.
Bergruin Residential was established in 2006 and operates in the luxury real estate market in Tel Aviv, and is part of the international investment group 'Bergruin',Founded in 1984 and owned by American billionaire Nicholas Bergruin.
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