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Latest news: Edinburgh tycoon's charitable will



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Published Date: 09 April 2008
A PROPERTY tycoon has left an enormous charitable legacy in his will.
Retired garage owner Thomas Gibb died in September last year aged 94 and left nearly £4 million in his will.

The bachelor, who had no children, owned various commercial properties in Edinburgh and Fife worth more than £2 million.

Mr Gibb left m
ore than £1.5 million to various charities close to his heart.

His property portfolio included a large garage, cafes, restaurants and a newsagent situated throughout the Capital.

Included in his legacy is the Gibb family home in Ravelston, which is estimated at more than £350,000, shares and investments totalling almost £300,000, and more than £1 million in cash.

He also bequeathed his £20,000 classic Mercedes S320 to close friend William Coubrough.

The bequest reveals extensive and generous gifts to charities, family and friends.

Organisations that received donations include the RNIB, RNLI, Scope, British Heart Foundation, Royal Hospital for Sick Children and numerous cancer charities.

The St Columbus Hospice received in excess of £200,000, and Edinburgh Zoo, which received £5000, was another beneficiary of the keen animal lover.

The Royal Blind School, the Salvation Army and the Marie Curie Cancer Care also received donations of £5000.

The pensioner also left £10,000 to his book-keeper and friend, Kathleen Beattie.

Mr Gibb's extensive portfolio contained an impressive array of shareholdings and investments in companies such as BT, Diageo, Aviva, HBOS, Shell, Tesco and Vodaphone.

He has also bequeathed a sum of money to Edinburgh City Council for a four-seater bench with an inscription in his memory.

The total figure of £3,908,902.55 meant Mr Gibb's estate paid £85,398.64 in inheritance tax.




The full article contains 290 words and appears in Edinburgh Evening News newspaper.
Page 1 of 1

  • Last Updated: 09 April 2008 5:51 PM
  • Source: Edinburgh Evening News
  • Location: Edinburgh
 
 
  

 
 


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