Nearly 30-Property North London Portfolio Hits The Market
The Jehovah’s Witnesses is asking for offers for 29 properties around Mill Hill in North London. The properties are mostly in residential areas, and the portfolio is expected to draw interest from developers, investors, retirement and care home providers and hotel companies.
No figure was given for the value of the portfolio, but its most recent accounts list £73M in fixed assets. Proceeds from a sale would generate more than that, according to the Estates Gazette.
Properties include Watch Tower House, a 103k SF mixed-use building on an eight-acre plot. It includes 175 studio or one-bedroom flats for Jehovah’s Witnesses staff.
Additionally, a 201k SF building on a five-acre plot that serves as the group’s main offices is included, and it has planning approval for 34k SF of offices.
The religious group is building a new facility in Chelmsford, Essex. [EG]