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Church Commissioners complete sale of Millbank site

29 March 2005

The Church Commissioners have completed the sale of the Millbank site in central London to the House of Lords for £65 million.The site comprises l Millbank, Millbank House and 5 Great College Street.

The Church Commissioners will move out of 1 Millbank in 2007, when around 100 staff will join other staff of the National Church Institutions in refurbished offices in Church House, Great Smith Street.

Andrew Brown, Secretary of the Church Commissioners, said: “This sale will release the value held in the properties and enable significant additional funds to be invested for the mission of the Church.

“The transaction demonstrates how the Commissioners are managing their assets in the interests of the wider Church.”

In a statement to the House of Lords last week shortly before the agreement was concluded, Lord Brabazon of Tara, Chairman of the Lords’ Committees, explained:

“The building will provide a long-term solution to the accommodation needs of Members, their staff and the staff of the House. One-third of the building, Millbank House, is already occupied by the House on a short-term lease, and the purchase secures that accommodation.

“The House will gain vacant possession of a further third of the building in September 2007, and it is anticipated that following refurbishment that part of the accommodation will be ready for occupation in 2009. The final part of the building is occupied by a third party on a lease which expires in 2015.”