Single archives

REM Group is very pleased to announce the successful sale of a large inner city development site located in Budapest’s district XI. REM Group acted on behalf of the owner, Karinthy Ingatlan Ltd, a company owned by the well known English expat, Mr Grant Boyd-Gibbins who  developed the stunning Dorottya Udvar office building and the Budapest Innovations Park complex, also both in Budapest (and whose website is www.sundance.re).

What makes this transaction unique is that 27 years ago our client had the vision and nouse to purchase this wonderful 7,450 sqm plot of land, let as on grade parking and home to a number of small businesses and a pub. The capital appreciation is a testament to the benefits of long-term investing and confirms the famous quote by Mark Twain – that being “buy land, they’re not making it anymore”.

We also acknowledge the foresight of the new owner, Gladiátor Alapkezelő Zrt, an entity linked to the WING Property Group who will transform the land over the coming period into a premium residential development.

Each one of our mandates are special, becoming like a good novel, enjoyable all the way through and unforgettable! I think the photo of our client gives a hint to what he likes doing in his spare time but new ventures are just around the corner!

A few words from Grant:

Hamish White, always a consummate professional, ably assisted us in the process of finding a purchaser for our XI. District development site. After almost three decades of ownership and a new business in self-storage to finance and grow, it was time to let go of what has been a remarkable income producing investment, returning a 15% compound return over our period of ownership.