Topland - General - UK, Sol Zakay set to return to UK to lead Topland investment drive
Date: 02 Jul 2013
Sol Zakay set to return to UK to lead Topland investment drive
Property giant Sol Zakay is to return to the UK from Gibraltar to lead Topland's investment drive. He joins as Executive Chairman and CEO affective immediately, taking over from his older brother Eddie, who now will sit as Deputy Chairman.
Sol has been abroad for the last four years working with the parent Topland Group Holdings based in Gibraltar, but will return as Topland looks to ramp up its UK investments drive.
Eddie & Sol Zakay are reported to be worth a colossal $3bn according to Forbes in March this year, ranking them as 16th richest in the UK. Through Topland they own some 12 million sq ft of commercial property space and over 700 hotel rooms. The portfolio includes a substantial portfolio of M&S stores, the €360 Eroski portfolio in Spain, and the Royal Crescent in Bath.
The move also coincides with Topland Group moving into a new larger London head office at 105 Wigmore Street W1, next door to its current office premises. Topland has agreed a 10-year lease on the 7,085 sq ft of space, paying £85 per sq ft with a substantial rent free period.
Sol Zakay, speaking of his move back to the UK, said "The Topland Group is in an exciting expansionary mode with a substantial amount of equity to deploy. We have recruited a number of new staff and the team is set to grow further. We have increased our involvement in senior and mezzanine lending and direct funding and currently have a number of acquisitions underway."
By Harry Hanscomb