Contracts have been exchanged
with Prestbury Group PLC for sale of the property with completion
in early April.
The sale takes place at JM's
revalued book value and will result in a gain vs historic cost
of £6.4m.
JM was established on the New
Garden House site in 1817, but moved its Head Office to Trafalgar
Square in 1991. The headquarters of JM's Precious Metals Division
will continue to be based in Hatton Garden, at No. 42, which
maintains JM's link with the area.
Commenting on the transaction,
David Davies, Chairman and Chief Executive of Johnson Matthey,
said:
"Johnson Matthey has been in
Hatton Garden for 180 years, but New Garden House is surplus
to requirements. The £21 million proceeds will reduce Group borrowings
following completion of the acquisition of Cookson Matthey Ceramics
announced last week."
Hillier Parker acted for Johnson
Matthey in the disposal.
