Wed, 27 Mar 2013 | COMMERCIAL PROPERTY
The Government is reportedly considering a sale of the Old War Office building in Whitehall.
The Defence Secretary Philip Hammond has given his approval to the £100 million sale, meaning that it will go ahead when a suitable buyer is found.
Estates Gazette confirmed the news, which was revealed in a Parliamentary question from Lord Hennessy regarding the future plans for the building.
The Government Property Unit is thought to be set to take control of the negotiations relating to the sale, while an agent will be sought in the summer. It is thought that the sale could be part of a potential £500 million re-development of the surrounding buildings.
Lord Astor of Hever, Under-Secretary of State for the Ministry of Defence, commented on the decision to sell the building: "The MoD intends to vacate the Old War Office during financial year 2014-15 and Her Majesty's Government are currently examining options to sell the building. I will write to the noble Lord when an announcement is to be made."
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