It has sold its leasehold interest in the former church building to Greenhouse Sports for £9.5m ($14.4m).

The lease had a net book value of £4m, leading to a profit of £5.5m.

Braemar is currently preparing to move to its new headquarters in London’s Trafalgar square.

The move is scheduled for 2 February, while the sale of the church office will be completed by late February.

James