News
The Landmark Completions
July 30, 2010
In late 2006,GB Developments contracted to purchase off plan the 3rd floor of this prestigious residential development adjacent to the Canary Wharf business district.The eleven purchase contracts were then assigned in Spring 2007,but unfortunately the purchasers were unable to complete the properties once notice was served in 2010.
However,all eleven units were completed by the 31st July 2010 either by GB Developments or alternative third party investors introduced by GB.
Managing Director,Simon Grace commented “Whilst it was disappointing that our initial sub purchasers were unable to complete due to the lack of financing options available to them and regrettable that they lost a substantial deposit,I’m pleased that GB were able to fulfil all their contractural liabilities within the timescales agreed with the developer. The units completed by GB have been placed within our portfolio and were rented the day after completion at a circa 6% yield.”