An Israeli investment company headquartered in the UK has announced that it was the vendor behind the largest lot sold by Allsop on a digital auction contract to date.
Decama Capital, which is listed on the Tel Aviv Stock Exchange, sold the unbroken parade in Ruislip Manor, Middlesex, in December. It was guided at £8m in the catalogue for Allsop’s 9 December commercial sale and was sold prior for £10.5m – a 4.5% yield.
Decama Capital said the sale of the property was part of a strategy to expand and explore new investment opportunities, particularly in the renewable energy sector.
Chief executive Nate Lorenzi said: “The sale of this property is a milestone event for Decama Capital and we look ahead to continuing to grow our investment portfolio over the coming year.”
The freehold parade of 14 shops and 18 flats totalling 22,440 sq ft on a 0.83 acre site next to Ruislip Manor Underground Station currently produces almost £480,000 per annum with one flat vacant.
It was offered with planning permission for a third-floor extension to provide a further nine flats and potential for further redevelopment on Victoria Road and to the rear of the building.
To send feedback, e-mail julia.cahill@egi.co.uk or tweet @EGJuliaC or @estatesgazette
