More than half of the Metropolitan Police's aged buildings, currently worth £900m, are to be sold off over the next decade, it emerged yesterday.
The sales, enforced by the outmoded nature of many police buildings in London, will create funds to finance a massive overhaul of Britain's largest police force, enabling it to deliver more up-to-date neighbourhood policing.
Between 2005 and 2015, the force will sell 60 per cent of its police stations and other operational properties across the capital. The 600 operational premises are valued at around £1.5bn and accommodate 43,000 staff, of whom 28,500 are police officers.
Currently the police's property portfolio costs £75m to maintain.Reuse content