Harel sells government-let ‘trophy’ office building in London
Leading Israeli insurance and finance group Harel sells 50 Broadway SW1.
Harel Insurance and Finance is one of Israel’s largest insurance and finance groups. Their comprehensive product portfolio includes health, life, business, and motor insurance as well as investment services such as pension and mutual funds.
Harel purchased 50 Broadway in 2014 and together with development partner, Valeo Capital, undertook a comprehensive refurbishment of the 72,560sq ft space to create high quality office accommodation. The trophy building was pre-let in its entirety to the UK government in June 2021 for a term of 20 years subject to a tenant break option after the first 15 years.
Taylor Wessing advised Harel on the real estate corporate and tax aspects of the transaction, led by Real estate partner Keith Barnett, with support from Hanna Ross (née Whitmore), Michael Goldberg, Stephanie Hobbs, Liz Wilson and Pip Moss.
