Gindi, one of Israel’s largest developers, is in discussions to buy a 100-acre site in Bushey, Hertfordshire, as the first step in its plan to move into the UK.
The developer is looking to team up with Irish developer Luke Comer’s Comer Homes to redevelop the International University site in Bushey as luxury apartments, akin to its trademark buildings in Israel. The site already has planning consent for 317 such flats.
Gindi and Comer are looking to form a joint venture, with Comer taking on the main construction work and Gindi taking the financial risk.
But the deal is stalling over the price of the land, which is between £65m and £80m.
In April, Gindi announced plans to expand in Europe and the US.
References: EGi News 16/08/04
