News
GB 34 Unit Block Completes in Greenwich
May 25, 2009
GB Developments has completed the sale of Block J at The Rubicon development in Greenwich.GB exchanged contracts for the sale of this 34 unit building in May 2008.
Managing director,Simon Grace,commented “The sale of this building has produced significant profits and an excellent return on the equity invested for the partners involved.The overseas buyer overcame extremely difficult lending conditions to secure the finance to enable completion to take place.This demonstrated his strength as a purchaser and the quality of the buildings investment potential which was still evident even in a very difficult market.
I know from our own experience in the development that the units will rent extremely well and with a medium term strategy I’m sure the building will produce excellent initial yields and long term growth potential.”