Connect with us

Hi, what are you looking for?

Jewish Business News


Billionaire Robert Tchenguiz Ordered to Sell Warehouse in Leicestershire for $76 Million

Robert Tchenguiz

Iranian-born Billionaire investor Robert Tchenguiz is forced to sell a warehouse in Leicstershire for $76 million. The warehouse is the BT National Distribution Center in Magna Park, and due to a legal ruling, was sold to Aberdeen Asset Management.

Tchenguiz was forced to sell by the courts as a part of a joint-liquidators’ attempts to recoup funds. Tchenguiz was lent $2.60 billion by an Icelandic bank before the bank failed. The Magna park property is 432, 000 feet in size and is put under the agency of DTZ until a buyer is found. Jeremy Beckett, a spokesman for DTZ, said, “There was significant investor demand for this prime asset due to the quality of the real estate and the location, along with the long secure income stream from BT and fixed monthly rental uplifts.”

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.

Tchenguiz’s 2% stake in the department store House of Fraser has been sold. He might have to sell the Farnborough Headquarters of BAE Systems and the Mayfair office, Leconfield House, former headquarters of the MI5. Tchenguiz said he was “satisfied” with the price at which the Magna Park property was sold.



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.