There has been a high level of interest shown in acquiring New Scotland Yard since it was confirmed on Monday that the Metropolitan Police Headquarters is for sale.
Despite Berkeley Group boss Tony Pidgley declaring that he ‘wouldn’t touch it with a bargepole,’ it is reported that numerous inquiries have been received for the 600,000 sq ft property which has a price tag of £250 million.
The sale is part of a major property disposal scheme involving over 60 police stations throughout London. Among those already sold are Harrow Road and Hackney stations which raised £9 million and £7.6 million respectively.
The majority of the sites have been sold to residential developers keen to profit from the capital’s buoyant housing market, but others have been developed for commercial use.
In the case of New Scotland Yard, which is being marketed as Ten Broadway, the Met has not obtained planning permission for any particular use, despite a feasibility study recommending a residential scheme. However the site would also be suitable for a hotel or office development.
Charles Pinchbeck, West End development chief at agents JLL, has revealed that inquiries about the property have been received from potential buyers at home and overseas.
“There is very strong demand for development opportunities in central London. You could see it exceeding the guide price,” he said.
On vacating New Scotland Yard, the Met will move its operations to the Curtis Green Building on the Victoria Embankment.
The neo-classical 1930s property is currently undergoing a major refurbishment, including the conversion of office space to accommodate up to 1,000 officers and staff. The relocation is scheduled to take place next year.
