The Board and Executive Management Team are delighted to announce that we have successfully negotiated the purchase of the freehold of our current Head Office together with the floor immediately above it. This means we now own our Head Office and have lots more space.
This purchase is a really important development for Bethphage as it will provide additional space for offices and meetings in our own facility, together with a few more car parking spaces. Stef (Acting Deputy CEO) and her team are planning the layout of the building, which will involve the creation of new offices, meeting rooms, and a new training room. Although access to the ground floor is currently very good we intend to make the first floor easily accessible to everybody as soon as the current tenant has vacated.
In addition to the extra space, purchasing our property makes strong financial sense as we will save on rent and the costs of renting off-site meeting spaces. The value of the office property is also likely to grow at a better rate each year than if we kept the money in the bank.
We are convinced that this investment will be a fantastic, safe, and prudent asset for the whole of Bethphage. We will at last have a place which will belong to the organisation and which will give us a natural home for meetings and training for staff and the people we support.
You will not see many changes for several months as we have sitting tenants upstairs until the end of October (who are now paying Bethphage rent). However, we will keep you updated on Head Office developments through Workplace.