IIB Belgravia Property Company
In 2005, IIB acquired a landmark commercial property, 33 Grosvenor Place, London, valued at £ 154.3 million (US$ 305.4 Million) occupying a prime site in the prestigious Belgravia area of London. The property comprised one building with six levels (ground floor to fifth floor) in addition to lower ground, mezzanine, basement levels and underground parking space. The property was of excellent quality, in a prime location, and was one of the very few properties in London overlooking the garden of Buckingham Palace.
In December 2006, the property was sold for £ 225 million (US$ 409 Million) resulting in a total investor return of 98% in a 17-month holding period.