Metropolitan Police enters negotiation to buy Scotland Yard

November 14th, 2008 - 5:36 pm ICT by ANI  

London, Nov 14 (ANI): Londons Metropolitan Police is to enter into negotiations for buying its headquarters, New Scotland Yard, after Land Securities puts the famous building up for sale.

The Metropolitan Police has decided to put in a bid to buy New Scotland Yard building, worth more than 100 million pound, which it currently rents.

Owner Land Securities put it on the market this week, saying it had generated strong investor interest.

The 20-storey building in Victoria Street, central London, has been home to the force since the 1960s. The decision to buy the site with taxpayers” money was taken at a special Metropolitan Police Authority meeting.

The force currently pays an annual rent of 4,714,500 pound for the grey building and holds the lease of the block until 2064.

New Scotland Yard houses senior officers, the Counter Terrorism Command and other units.

Metropolitan Police Authority (MPA) spokesman said: An extraordinary meeting of the MPA full Authority met and agreed that negotiations to purchase the freehold of New Scotland Yard should be progressed. Negotiations are subject to commercial confidentiality and we are not prepared to discuss the financial details.

Land Securities, the UK’’s largest property company, hopes to raise around 120 million pound from the sale, The Telegraph reported. (ANI)

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