The iconic headquarters of the Metropolitan Police was put up for sale this week as part of a £500m cost-cutting plan.
The 550,000 sq ft New Scotland Yard in Victoria, SW1, is expected to raise as much as £150m on the open market.
The Met will vacate the office, which it bought from Land Securities for £120m in 2008, and move to the 95,000 sq ft Curtis Green building on Victoria Embankment.
The move would free the block for redevelopment at a time when Victoria is undergoing a major office and residential regeneration, led predominantly by LandSec.
Deputy commissioner Craig Mackey said: “We need buildings that are fit for a modern police service. New Scotland Yard costs £11m a year to run and we now need to invest over £50m into it.”
Knight Frank has been instructed to handle the sale, along with four other stations in Finchley, N12, Kingsbury, NW9, East Dulwich, SE22, and Sidcup in Kent.
The Met had tried to sell Curtis Green earlier this year, but a £35m sale to Welbeck Land collapsed owing to security fears.
jack.sidders@estatesgazette.com
