The Tel Aviv Stock Exchange (TASE) building at 54 Ahad Ha'am Street in Tel Aviv has been put up for sale ahead of the TASE's move to new premises in the city's Neve Tzedek neighborhood. The TASE has occupied its current premises since 1983, and will move to the new building in the first quarter of 2014. The TASE will complete vacate the current building by the end of next year.
The TASE building has 5,700 square meters of space on five floors. The estimated price will be NIS 8,000-10,000 per square meter for a total of NIS 46-57 million. The building is owned by TASE members through TASE Offices Ltd. After reviewing various options, TASE Office's board of directors decided to sell the building and then liquidate the company.
Bids for the property can be submitted from October 4 through 4 pm on November 5. The cost of the bid is NIS 2,000.
The TASE decided to move to new premises in 2005, because it needed a building with infrastructures for sophisticated computerized trading. In 2007, it bought a lot at the corner of Ahuzat Bayit Street and Montefiori Street, next to the Shalom Tower.
Published by Globes [online], Israel business news - www.globes-online.com - on October 2, 2013
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013