Embassy Gardens will deliver about 2,000 new homes JUSTIN TALLISUK sales at Sean Mulryan’s Ballymore surged to £692m (€793m) in the year to March 2017 as the Irish developer completed sales at London sites Embassy Gardens, the 44-storey Providence Tower, and London City Island. The group made a profit of £518m after a massive non- cash gain earned on financial restructuring as Ballymore exited Nama. UK, and London in particular, accounts for the greatest concentration of the group’s development activity, and sales in the year were ahead by 25%. Stripping out the non-cash gain relating to the debt restructuring, Ballymore made a pre-profit of £76m, largely from the sale of units at its various prestigious developments. Ballymore says during the year to March 2017 that the company and its connection paid £3.2bn in cash…

Source: The Times April 07, 2018 23:03 UTC