News
GB Sells Off Plan Stock
December 31, 2015
GB Developments has sold 80% of its apartments due for completion within this calendar year.
Simon Grace, Managing Director of GB Developments, commented –
“Market conditions and our sales strategy have allowed us to profitably trade out of stock at above our normal percentage levels. Prices in many schemes we have bought into have benefited from capital appreciation over the construction period and we always try and offer stock at below market value to maintain turnover and reinvest in new opportunities.
We were equally happy to complete apartments in Embassy Gardens and Chiswick Point. All units were let within two weeks of completion and produce yields in excess of 5%.
We have not reinvested all our equity in anticipation of more advantageous buying conditions during 2016.”