Trinitarian Bible Society raises funds through HQ sale and relocation

The Trinitarian Bible Society Trust (TBS), working with its advisors Hanover Green, has raised funds and reduced costs through the sale of its headquarters and relocation to new accommodation.

It has recently concluded the sale of Tyndale House in Merton to the Secretary of State, on behalf of Park Community Primary School, for £5,325,000. TBS has also taken a short-term lease at 15 Lyon Road while new premises are constructed at 29 Deer Park Road, both SW19.

David Cuthbert of Hanover Green commented: “This is a key milestone in a 2 year project which has helped the Society raise funds from the sale of an old asset and find new premises locally which are fit for purpose. Tyndale House simply no longer suited their occupational needs and was inefficient and expensive to run.”

TBS has purchased a site at 29 Deer Park Road from Chancerygate, who have been retained to construct two new warehouse and office buildings comprising around 26,500 sq ft in total. One of the buildings will become its new headquarters and the other will be available to let.

In the meantime, TBS has taken a short-term lease on temporary premises at 15 Lyon Road SW19 from Capital Industrial. These premises comprise 12,000 sq ft and the rental is £120,000 pa.

Tyndale House was named after William Tyndale, who translated the first English Bible directly from Hebrew and Greek texts in the 1500s. The Tyndale Bible was one of the first English Bible translations to be mass-produced.

Hanover Green represented TBS on all the transactions. Smith Young advised Chancerygate.