As the new Metropolitan Police HQ on Victoria Embankment officially opens today, it’s been revealed that a sell-off of property assets over the last five years has generated around £1bn for the force.
2014’s sale of New Scotland Yard to Abu Dhabi for resi development was the biggest single deal by far, bringing in £370m. Other notable prime resi projects include Chelsea Police Station, which was bought for £40m in 2015, and a block of flats (1-49 in Kilmuir House) in Belgravia for £45m. The most expensive single residence to be offloaded by the Met in the last five years is an apartment in Sailmakers Court, Fulham, which went for £1.4m back in 2012.
Around 24 police stations have been sold or closed sine 2012-3, according to a Freedom of Information request by the Press Association. Overall, 67 “operational” units were sold, as were 20 “residential blocks”, and 84 “residential units”.