Real estate in Gibraltar: Brian Francis & Associates - 37 years of experience for buyers and sellers. Olive Press News Spain.

BRIAN FRANCIS & ASSOCIATES

is a firm of registered valuers in Gibraltar that has specialized knowledge of the local real estate market and provides services to individuals and corporate clients.

Basis

Brian founded the estate agency in September 1986 after 14 years in the Civil Service, at the end of which he was appointed Director of Crown Lands from 1982 to 1986, where he was responsible for development and planning during the period when the border with Spain first opened from 1969.

He remembers this "active period" well and how difficult it was to be involved in the real estate sector at a time when home ownership was in its infancy.

Solving the housing problem

"It was initially difficult to enter the Gibraltar market, but I was instrumental in persuading a local group of developers to form a consortium to tackle the acute housing problem at a time when owner-occupation was only about 5% of the total housing stock," he tells Olive Press.

"The consortium, called Gibraltar Homes Ltd, built about 1,500 affordable homes on reclaimed land then known as Westside 1 (Montagu Gardens and Montagu Crescent) and Westside II (Harbour Views)."

The Europort regeneration project undertaken at that time created some 300,000 square meters of land for development and was the beginning of a co-ownership scheme through which local residents were able to purchase their first homes.

Europort Recovery

Brian Francis says the rebuilding of Europort has addressed the British territory's "land shortage" when the Ministry of Defense began transferring its land occupied for defense purposes to the Gibraltar government in order to diversify an economy heavily dependent on military spending into tourism, financial services and port activities.

"The transfer of excess MOD land on the west coast along Queensway led to the construction of the luxury Queensway Quay (1992-1996) and the recently completed Kings Wharf in three phases known as Quay 27, Quay 29 and Quay 31, which together with other luxury developments in the area, known as The Sails and The Island, have transformed the west coast into a vibrant center of commercial and residential activity that will be further transformed when the Victoria Keys development, which includes additional land acquisition north of Queensway Quay, takes place," Brian said.

Other land restoration projects

Other land redevelopment projects have also taken place in the Marina Bay area, near the airport, and the highly successful Ocean Village development, which recently completed 144 luxury rental apartments housed in five buildings at the tip of the main Ocean Village Marina, known as the Marina Club.

Prospects after Brexit

"Fast forward to 2023 and Gibraltar is in a very different situation following Brexit, the pandemic and the ongoing conflict in Ukraine," reflects Bryan.

The experienced estate agent is hoping for a deal with the EU that could open up key opportunities in the region, but he fears a lack of agreement could be "detrimental to Gibraltar and the Campo region", relying on a deal that could actually bring "general prosperity" to the area.

Contact information

For all your Gibraltar real estate needs, contact Brian Francis and Associates at 00(350) 200 71131 or 71625. Email: [email protected], website: bfagib.com.