The Ministry of Defence's Old War Office building is now surplus to requirements and will be sold in order to invest in Defence priorities.
The building will go on open market sale shortly following the appointment of suitable professional agents and is expected to attract significant interest from developers.
In 2014 MOD staff will move out of the Old War Office and all operations will transfer into MOD’s Main Building. This is part of the MOD-led drive to operate a more efficient estate.
Bringing MOD teams together into one building will save the taxpayer around £8 million a year in running costs and will also enable closer working and collaboration within the department. The sale also contributes to the wider Cabinet Office drive to operate a more efficient government estate, which has already helped departments to raise £1 billion by selling buildings and land no longer needed.
Defence Secretary Philip Hammond said:
As a result of our work to make MOD leaner, more professional and more efficient, we are able to concentrate defence officials in London in a single building and sell the Old War Office.
Bringing MOD teams together into one building will save the taxpayer around £8 million a year in running costs as well as generating a capital receipt. It will also enable closer working and collaboration within the department.
The disposal of the Old War Office follows the announcement of the sale of the military facility in Old Brompton Road, London. The capital receipt from these sales will be invested in Defence priorities.
Source: Gov.uk www.gov.uk