Asia House Ltd., which is owned by the Eisenberg family, has sold the Asia House building, adjacent to the Tel Aviv Courthouse , at 4 Weizman St Tel Aviv to Pixie, owned by Jason and Mel Cooper, the owners of Mountcharm Ltd.
Both Asia House and Pixie refused to disclose the sale price although real estate sources believe the building sold for $31 million. This is the first investment in Israel by the Coopers, who plan to acquire other income producing real estate properties.
Asia House was built in 1979. It has a post-modernist style with 17,000 sq.m in five floors of office space above a commercial ground floor, and a three-floor underground car park. Asia House is adjacent to Europe Israel towers, Europe House, and is a short distance from the Tel Museum, the Tel Aviv courthouse, and other buildings. Its occupants include a large number of law firms, among them Fox, Herzog and Neeman, as well as the newly opened branch of French bank BNP Paribas and the Swedish embassy. It previously also housed the embassies of many other countries.
Asia House’s tenants pay rent at an average rate of $16 per sq.m, as well a cleaning and maintenance fee, charged at a rate of $9 per sq.m.
Published by Globes [online], Israel business news - www.globes.co.il - on May 24, 2006
© Copyright of Globes Publisher Itonut (1983) Ltd. 2006