Quay 29 Launched
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Quay 29 Launched
The newest phase of the King’s Wharf development, known as “Quay 29” was launched recently and solicitors acting for buyers have been asked to comment on the draft documentation by no later than the 26 February 2016.
See website here: www.quay29.com
The first phase of the development was completed in 2011 and was a notable commercial success with most of the apartments having been sold off plan. Subsequently there have been a number of re-sales with substantial capital gains having been made.
Of course, past performance is no indication of future market trends and investors must always be careful. Indeed, despite the success of the first phase, the developers have waited for almost 5 years before proceeding with this second offer.
Charles A. Gomez & Co. are acting for a number of buyers and are preparing to file their proposals with the developers:
“As always we are looking to ensure that the documentation provides the greatest guarantee possible to safeguard pre-payments and that the final product reflects proper design principles, that adequate materials are used and that construction is carried out to a good standard of workmanship.
Although standards of construction in Gibraltar have improved tremendously over the last 20 years or so, the purchase of an apartment is always very much a major investment and we take good care to ensure that our clients avoid all the pitfalls.”