Latest news: Edinburgh tycoon's charitable will

Published on Wednesday 9 April 2008 18:38

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 more 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.