Tag Archives: Andreas Whittam Smith

Church Commissioners: faith in good investments

imageThe Church Commissioners won’t let their £1.6bn worth of property to just anyone, says Christopher Middleton.

Most landlords aren’t bothered about how their tenants raise their rent money, so long as they pay it on time.

The developers of the sleek Brassworks project, near Marble Arch in London’s West End, are rather different. Not only are they asking £3,250 per week to live in one of the apartments, but they want to know how that money has been earned.

If it’s in the wrong way: through the arms trade, alcohol or tobacco, for instance, they won’t let you live there. No matter how rich you are.

“We have an ethical guidelines policy, and in the course of our precontract checks, the nature of your business would show up,” says Rosemarie Jones, spokeswoman for the developers. “And your tenancy would not be approved.”

Simple as that. In a field known for its reverence towards “high net-worth individuals”, it’s an unusual approach.

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