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Braemar sells church head office for $14.4m

Braemar sells church head office for $14.4m
Braemar Shipping Services has sold its distinctive London head office building, a former church, for GBP9.5m ($14.4m).

The shipbroking and services group has sold its leasehold interest in church at 35 Cosway St in London to Greenhouse Sports leading to an exceptional gain of GBP5.5m.

Following the merger of Braemer and ACM Shipping last year the company will be moving to a new head office at One Strand, Trafalgar Square in London on 2 February.

“The church at 35 Cosway Street has been a distinctive part of Braemar’s identity for nearly 20 years. However, since our merger with ACM last year, the building no longer has the space to meet the company’s needs,” said James Kidwell, chief executive of Braemar.

“This move represents the beginning of an exciting phase for Braemar. Our new Central London headquarters will give us the room to bring our expanded London shipbroking teams together.”