The Royal Philatelic Society London (RPSL), advised by Gerald Eve, has acquired a new headquarters at 15 Abchurch Lane in the City of London from a private investor.
The Grade II listed property – formerly the home of the Gresham Club and latterly the London Capital Club – is opposite the under-construction new Bank Underground station entrance, and was chosen by RPSL from multiple options across London as part of a long-term relocation project. 15 Abchurch Lane will now undergo refurbishment works ahead of RPSL’s occupation in 2019 in time for the society’s 150th anniversary.
The acquisition follows the June 2017 sale by RPSL of its former headquarters at 41 Devonshire Place, W1 to a private buyer, subject to a two-year leaseback. Gerald Eve advised on the sale.
Lloyd Davies, capital markets partner at Gerald Eve, said: “A combination of location and the quality of the space make 15 Abchurch Lane the perfect new headquarters for RPSL. Following the sale of its previous home at 41 Devonshire Place, this relocation sets RPSL up for the next chapter in its history.”
Patrick Maselis, president of the Royal Philatelic Society London, said: “We are delighted to have acquired 15 Abchurch Lane. The property offers both presence and gravitas, and its location in the City of London will help the Society develop and attract new members in the future. We are grateful to the team at Gerald Eve whose professional and multi-disciplinary approach has ensured a successful conclusion to what has been a complex and at times fast-moving process. We look forward to continuing to work closely together through the refurbishment works and onto delivery of the Society’s new home.”
Gerald Eve has been involved in the relocation project in a number of capacities. First instructed by RPSL to investigate its occupation options, the firm subsequently marketed former headquarters 41 Devonshire Place before identifying and agreeing the acquisition of 15 Abchurch Lane. The firm has been retained for planning advice and project management on the refurbishment of RPSL’s new City of London home.
Richard Fiddes, building consultancy partner at Gerald Eve, said: “It’s been fascinating working with the Society over the last 18 months. During that time we have gained a good understanding of the many facets of their education, research and advisory work, and how they are looking to create a modern headquarters that will both support their work and appeal to a wider membership. That understanding has helped us shape the brief for their new headquarters which we are now working with them to deliver in time for their anniversary celebrations.”
RPSL was advised by Gerald Eve on the acquisition of 15 Abchurch Lane, the disposal of 41 Devonshire Place, and continues to be retained for project management services for the refurbishment of the new headquarters. GVA advised the vendor on the sale of 15 Abchurch Lane.
