Kennel Club pockets £12m to move into neighbouring building

Finance | Tania Mason | 10 Jan 2012

The Kennel Club is to accept a payment of £12m to vacate its Mayfair headquarters and move a few doors down the road to make way for property developers.

The Club has agreed to move out of its present address at 1-5 Clarges Street into a neighbouring property, Clarges House, in the same street.

It has been at the original address for more than 50 years, having purchased it in 1957 and acquired the freehold in 1964.

Developers Chelsfield Partners offered to buy the property as part of a wider redevelopment of the area. It is believed to be planning to build a block of luxury flats and offices.

Members of the Kennel Club – the body that registers domestic canines – agreed to the move at a special general meeting late last year, on condition that the alternative accommodation provided must be freehold and have the same functionality as 1-5 Clarges Street, and that the move must be cost and tax-neutral to the Kennel Club.

They also insisted on a “sufficient incentive figure” and that there be “no material risk” to the Club.

Steve Dean, chairman of the Club, said: “We are very pleased that the members have agreed to this historic move, as it will bring with it £12m which we can put back into the world of dogs.

“This money will be invested wisely, and all decisions on how to utilise it will be given careful consideration to ensure that we get the maximum benefit from the great opportunity which is before us.”

The move is due to take place in 2014 after the new premises have been fully refurbished.

Neither the Kennel Club nor Chelsfield would comment on the terms of the sale and purchase of the properties involved.

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