Tender published for 3 Tel Aviv Yitzhak Sadeh towers

A tender has been published for the purchase of three Tel Aviv lots on Yitzhak Sadeh Street, on which three towers can be built for offices and apartments. The tender is part of the liquidation of the partnership of small landowners in the area and the estimated value of the land is NIS 300 million.

The tender is for three separate lots with the partnership of small landowners being liquidated on each of them although ultimately the court will amalgamate them into one procedure. The tender is being published by the receivers Advs. Ronen Cohen, David Basson and Nimrod Vardy as instructed by Judge Yaakov Shaked of the Herzliya Magistrates Court who gave the green light on the matter.

On one of the lots, Acro Real Estate and Yuvalim own 60% of the rights.

The municipal plan allows for the construction of three towers with 75% allocated for offices and 25% for apartments. Companies can bid separately for each of the three lots or all three together. Acro and Yuvalim are expected to bid for all three lots.

Published by Globes [online], Israel business news - www.globes-online.com - on February 7, 2018

Tender published for 3 Tel Aviv Yitzhak Sadeh towers

The three towers will allocate 75% of space for offices and 25% for apartments.