Connect with us

Hi, what are you looking for?

Jewish Business News

Real Estate

Eli Papouchado Buys Hercules House, a London Office Building, for $37 million

Eli Papushado

Eli Papushado

/ By Cellia Shani /

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

Red Sea Group, headed by Eli Papouchado, the most influential Israeli Hotelier today in the UK, has signed an agreement to acquire the Hercules building, located in the heart of London, for 130 million NIS. (About $ 37 million).

The transaction was performed by PPHE Hotels, the hotels limb of the Red Sea Group , operating the hotel chain under the brand “Park Plaza”.


The Hercules 10 floor office building, with one basement floor, totaling 12.5 thousand square meters, built on a plot area 4 acres. The building is located in the prestigious Westminster area, near Big Ben  and other network hotels.


The company said that it intends to fund the acquisition through bank financing and own resources, and  to convert the building considering to convert the Hercules building to an hotel.


For the time being,   the building is fully leased to local government offices, but the rental period is about to expire in late September 2013.


Boris Ivesha, President and CEO of PPHE Hotels, accompanying Mr. Papou Red Sea Groupchado for many years as a consultant, and chairman and CEO, PPHE, related to the transaction: “We most pleased with the last acquisition in central London and the unique opportunity it grants the Red Sea group. In recent years, the group business investments in London have marked significant successes, and the current acquisition is an excellent contribution to our property portfolio in the UK “.



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.