The Deputy Mayor for Policing and Crime, Stephen Greenhalgh, has confirmed the sale of New Scotland Yard.
The 1960s office block in the heart of Victoria, home to the Met Police HQ since 1967, is being sold by the Mayor’s Office for Policing And Crime (MOPAC) as part of a radical overhaul of London’s police estate. All proceeds from the sale will be reinvested into frontline policing.
With a guide price of £250m, the 1.7 acre, 600,000 square foot site, marketed by JLL as 'Ten Broadway’, was deemed unfit for modern operational policing purposes. Following an extremely competitive bidding process a preferred purchaser has now been nominated. Details of the sale including price and purchaser will be announced in December once the normal transactional process has been followed and contracts have been exchanged.
Deputy Mayor for Policing and Crime Stephen Greenhalgh said: “Londoners support our plans to put bobbies before buildings and all the proceeds of this sale will be reinvested in frontline policing. Over the coming months we will be able to share these investment plans with Londoners but I’m confident that today’s sale represents the best deal for London.”
The operational HQ of the Met will relocate to the refurbished Curtis Green Building on Victoria Embankment, owned by MOPAC and empty since late 2011. This move alone will save the Met over £6m a year in running costs - equivalent to 130 bobbies on the beat.
Notes to editors
- The sale of the Metropolitan Police Service headquarters at New Scotland Yard is a key part of the ‘MOPAC/MPS Estate Strategy 2013-16’ to release under-utilised assets and cut property running costs to realise savings to reinvest in frontline policing: https://www.london.gov.uk/priorities/policing-crime/publications/mopac-mps-estates-strategy
- The sale of the Broadway site and relocation of Scotland Yard involves the provision of a new Met Police HQ at the refurbished Curtis Green building in Whitehall. Renovation work there is currently underway with the move from NSY expected to take place from spring 2016.
- The decision to nominate a preferred purchaser was signed by the Deputy Mayor for Policing and Crime on November 11th 2014
- MOPAC will provide further information on the sale and timelines when contracts for the NSY site have exchanged.