The City of London Corporation is to sell a new 150-year-long leasehold with a “peppercorn rent” for the City of London police station at 37 Wood Street, EC2.
Cushman & Wakefield has been appointed to find a buyer for the leasehold, which has no formal price tag.
Purpose-built for the City’s police force in the 1960s, the Grade II* listed property comprises a four-storey building around a large courtyard, with a 12-storey tower to the north-east corner of the site, providing 56,577 sq ft of internal space.
The 0.44-acre island site, located near the Guildhall, will become vacant in Q3 2020 when the police force relocates to its new headquarters on Fleet Street, creating a rare refurbishment opportunity in the area.
The move will see the police force located with a new flagship combined courts facility, which is being developed in partnership with HM Courts & Tribunals Service and the judiciary. It is being created specifically to tackle fraud and related economic crime, including the expanding area of cyber-crime, while also dealing with business and property work and hearing other criminal cases.
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