MIKHATZ DROR ABSORPTION CENTRE NEVE SAPIR, ACCO, ISRAEL

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Title: MIKHATZ DROR ABSORPTION CENTRE NEVE SAPIR, ACCO, ISRAEL

1
MIKHATZ DROR ABSORPTION CENTRE NEVE SAPIR, ACCO,
ISRAEL
2
General Information

This absorption centre consists of two buildings
Each building containing nine floors
Both buildings are connected at the ground floor
level
On the ground floor, there are public amenities
which can be used by the residents
Entrance Lobby
Office of the Building Manager
Men/Women Disabled WC
There is a club room for the residents which
totals
240 metres in size. This room is fully
furnished and
benefits from air-conditioning

3
Additional Points Public Amenities/Services

The building is approximately 9,000 metres in
size and has a stone-covered finish
There are 204 flats in total comprising of 136
studios and 68 one bedroom flats
The grounds are secure with gates surrounding the
perimeter
Within the grounds the residents are able to park
their cars
An intercom system connects the residents with
the building manager or whoever is the
representative in the entrance lobby
Each building contains 2 lifts

4
Surrounding Area and Access

Located on Shalom Galil Street in the
neighbourhood of Neve Sapir, East Acco
Situated next to the Acco By-Pass (ring road)
with easy and quick access to all of Acco and the
surrounding areas including the Kryiot (small
towns around Haifa)
Within the surrounding area there are all the
services one might need on a daily basis
including
- Supermarket and shopping centre
- Medical clinic and pharmacies
- Government Offices
- Public transport links

5
Area Accessibility (continued)
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6
General Details Relating To The Flats

7
Financial Details

The property is let to the Israeli Government on
10 year term
The Israeli Government has an option of extending
the lease for a further five years
The start date of the lease was February 2005
(three years have expired)
Excluding the option, the end date of the lease
is February 2015
The current income is 4.85 million NIS per annum.
Monthly payments from the tenants total 144,000
NIS and the remaining amount comes from Amidar
in quarterly payments.
Current management charges are between 350,000 -
400,000 ? NIS per annum
The rental uplift profile is linked to Israeli
CPI and the relevant spreadsheet can be provided