Small Tel Aviv street kiosk gets NIS 12,500 monthly rent

The Jerusalem Post - - BUSINESS & FINANCE - • Globes cor­re­spon­dent

An auc­tion for a tiny com­mer­cial area in cen­tral Tel Aviv il­lus­trates once more how every square me­ter in the city is like gold.

Ac­cord­ing to the re­sults of an auc­tion held by the Tel Aviv Mu­nic­i­pal­ity that have reached Globes, a six-squareme­ter kiosk at 31 Roth­schild Boule­vard was rented for NIS 12,500 a month, or NIS 2,083 per sq.m. The kiosk is in the mid­dle of the boule­vard at the corner of Al­lenby Street and is owned by the mu­nic­i­pal­ity.

De­spite the high price, there were no fewer than six bids. The auc­tion closed at the end of last Novem­ber, but it took sev­eral months to de­cide the win­ner. The Tel Aviv Mu­nic­i­pal­ity con­firmed the fig­ures and said pos­ses­sion of the prop­erty had re­cently been trans­ferred.

The auc­tion was won by real-es­tate de­vel­oper Gil Ben-Or. The bids ranged from NIS 5,100 a month to NIS 15,600 a month. Some of the bid­ders did not meet the auc­tion cri­te­ria, and even though there were bids higher by more than NIS 3,000, Ben-Or’s bid was even­tu­ally se­lected.

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