Offshore owners of iconic Fortis Green pub exempt from business rates
PUBLISHED: 18:16 16 September 2016 | UPDATED: 19:29 16 September 2016
We reveal the developers who may demolish The Alexandra are leasing the derelict property to a charity which exempts them from the tax
The news follows our shock investigation that £45million of overseas cash was invested in seven iconic pubs in Hampstead, Highgate, Primrose Hill and Camden Town from 2010 to 2014.
The Alexandra Pub, where The Kinks’ Ray and Dave Davies once partied, now forlorn and empty-looking, faces demolition after losing its protected status.
Aid for All Ltd, which collects and donates household goods and food in warehouses around the country to “relieve poverty”, is leasing the pub.
As the party responsible for the pub is a charity, the building is not liable for business rates, as revealed in Haringey Council correspondence.
Isidore Horowitz of Aid for All described himself as a “pawn in the game”.
His charity had been leasing the premises “for much lower than the going rate” for just over a year, but they can be given 30 days notice.
The Alexandra Pub was sold to STO Capital, based in the British Virgin Islands in 2014.
The company CLTX, based in Tel Aviv, is named on the planning appeals.
More than 1,000 people signed a petition to stop The Alexandra being turned into luxury flats in 2014, but permission was granted on appeal for the pub to become two family homes.
We were unable to contact CLTX or STO Capital.
Meanwhile, pubs campaigners are calling for more planning protection for pubs from offshore speculators.
A Haringey Council spokesman said: “Business rates have not been charged on this pub since February 2014 as it is being leased by a charity, even though it is currently vacant.
“We will be reviewing whether this charitable exemption should still be in place and if business rates are owed, we will back-bill to ensure the full amount is recovered.”