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Alony Hetz buys Cambridge science park buildings for £45m

Nathan Hetz Photo: Eyal Izhar
Nathan Hetz Photo: Eyal Izhar
26 Jan, 2021 13:08
שלח תגובה במיילOmri Cohen

The two buildings on the site encompass 6,500 square meters of office space, leased as an R&D center to a life sciences company for 10 years.

Israeli income producing real estate company Alony Hetz Property and Investments Ltd. (TASE: ALHE) reported today that it is expanding its UK activities by acquiring two office buildings in the Cambridge science park for £45 million (NIS 193 million), before the costs of the deal.

Alony Hetz operates in the Israeli, US and UK property markets through subsidiaries. In the UK, Alony Hetz works through Brockton Everlast (BE) in which it holds a 96% stake.

In this latest deal, BE has signed an agreement to purchase a 150 year lease for a 4.25 acre site in the science park to the north of Cambridge. The two buildings on the site encompass 6,500 square meters of office space.

The space is leased out until May 2031 as an R&D center for a life sciences company. The area is fully leased with annual NOI of £2.2 million (NIS 10 million) expected in 2021, returns of 4.9%.

Alony Hetz says that the property has potential for future enhancement with a significance increase in building rights. The deal is due to be completed in March 2021.

Nathan Hetz is founder, president and CEO of Alony Hetz.

Published by Globes, Israel business news - en.globes.co.il - on January 26, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

Nathan Hetz Photo: Eyal Izhar
Nathan Hetz Photo: Eyal Izhar
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