Exclusive: property talks
Israeli fund Migdal pursuing £60m deal for Tanfield
Tanfield: new owner on cards
Israeli fund Migdal is believed to be in talks about the £60 million acquisition of a business centre in Edinburgh which is home to some of the city’s top companies.
Daily Business has learned that the Jerusalem-based insurance and pensions group wants to purchase the Tanfield development in Canon Mills.
It is the headquarters of listed software company Craneware and the fintech business FNZ which has just been acquired in a £1.65bn deal.
It is also a base for Avaloq, Trainline.com, Blackcircles.com, Dell and Anytime Fitness. The centre is now fully occupied.
Migdal has been providing a wide variety of insurance, pensions and financial asset management services for more than 80 years. It was quoted on the Tel Aviv Stock Exchange in 1996.
Tanfield was formerly key offices for Standard Life and incorporates the facade of Tanfield Hall, site of the first Free Church assembly in 1843.