Record year for Derwent Group Holdings

Rental income exceeds £30m p/a

Derwent Group Holdings, founded by the late Albert Gubay, has announced its most successful year to date.

The business, which has its headquarters on the Island, says its rental income is now exceeding £30 million per annum.

Group Chief Executive David Lyons says whilst it's been a sad and difficult year for them following the death of Mr Gubay, he's delighted with the results for the year ended March 31, 2016.

Mr Lyons adds they represent a fitting tribute to Mr Gubay's business genius and long years of hard work.

They now aim to build on his legacy and take the group's rent to over £50 million in the next five years.

Derwent Group are looking to spend up to £100 million on the Edge Lane Development in Liverpool.

The scheme, which will be known as Liverpool Shopping Park, is expected to open in late 2017 and when fully let will bring in a rental income of £10 million.

The group also intends to pay £10 million into the Albert Gubay Charitable Foundation this year, with that figure possibly rising to £20 million per annum over the next five years.