Great Things Are Expected From The Towers Investment – Rezworth Burchenson
Victoria Mutual (VM) Wealth Management says it intends to ‘restore its newest purchase, The Towers at Dominica Drive in New Kingston, to its former glory’ as part of its capex investment programme.
This follows the company’s $1.38 billion dollar purchase of the property from Cable and Wireless Pension Fund, which first put the building on the market more than eight years ago.
According to deputy CEO of Victoria Mutual Wealth Management Limited, Rezworth Burchenson, great things are expected from this investment.
He says based on VM’s calculations, that real estate is one of the better performing asset classes over the long-term, and this portfolio allows investors a vehicle to participate in that growth.
Burchenson says to that end, VM expects returns of over 10 per cent per annum in the long-term.