So they simply sold the Office block and a bit of the surrounding Land for 50 Mill ? I presume the rest of the Site was sold to a developer for more ?
Yes - the Society divided up the main Bethel sale into 3 lots - IBSA House ( small factory & large offices ) , Watchtower House ( main factory , smaller offices & residential ) & Millhill Kingdom Hall.
Watchtower House ( the former "Bittacy Hill" factory conversion ) was sold to another property company ( link below ) - price unknown.
The onsite MillHill congregation Kingdom Hall there is now under offer ( see below ). It was marketed as a "conference centre" ( the main asset there is the land - there is a big field there , but the Society were unable to get planning permission as it is "Green Belt" land with restricted development ).
Most of the numerous flats and houses the Society owned in the vicinity and used mainly for accommodation for Bethel "heavies" have been sold now. All told - I would guess the Society have raised around £200 GBP million with zero capital gains tax liability for the whole property portfolio which considering it was built with ( effectively ) slave labour is a huge gain. Doubtless they will do the same with the new Bethel in Chelmsford in 15-20 years time and rinse & repeat....
Links...
https://ibsaproperty.com/properties/watchtower-house/
https://ibsaproperty.com/properties/conf-centre-and-open-field/
https://www.london.gov.uk/sites/default/files/ibsa_house_report.pdf