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Gubay's charity foundation to top 10 million

Tue, 09 Feb 2016

Albert Gubay
Albert Gubay

£10 million could be raised for charitable causes every year as part of a millionaire businessman's legacy.

The Albert Gubay Charity Foundation has announced its plans to continue following the death of its 87-year-old founder last month.

Gubay's property company The Derwent Group - which is worth around £700 million - will reinvest at least half of its annual profits with the remainder going to the foundation.

In the next five years this investment is expected to top £20 million a year.

More information about the causes the foundation will support will be announced in due course - it's hoped the first donation will be made by August. 

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