The Trinitarian Bible Society (TBS), advised by Hanover Green, has let an 11,175 sq ft warehouse at John Wycliffe House, 29 Deer Park Road, in SW19, to Burke & Wills Removals.
The incoming tenant has signed new 10 year lease and will pay a rent of £13.50 per sq ft.
The deal marks the completion of a highly successful relocation and investment strategy for the society, which was advised by Hanover Green throughout.
With proceeds generated from the sale of its old premises, TBS purchased the site last year from Chancerygate, who then constructed two new warehouse and office buildings of approximately 26,500sq ft in total. One of the buildings became the society’s headquarters with the other available to let.
David Cuthbert of Hanover Green commented: “The society has moved from costly inefficient space to a purpose built headquarters, funded by the sale of its former offices and created an investment with a secure income stream.”
Hanover Green represented TBS on all the transactions. Burke and Wills was unprepresnted.