England For Sale
Seems the Tories are starting to sell off English Landmarks. Gordon Sold all our gold now Camerclegg is selling off our real estate.
ADMIRALTY ARCH HEADS TO MARKET
HM Government has announced it is to sell the long leasehold interest of the iconic Admiralty Archway. The Grade I…
HM Government has announced it is to sell the long leasehold interest of the iconic Admiralty Archway.
The Grade I listed building is situated close to Trafalgar Square and at the top of The Mall and offers 13,685 sqm across eight levels. Commissioned by Edward VII and finished in 1912, the archway was once the accommodation for high ranking naval officers. More recently is has been used by the Cabinet Office and the Ministry of Defence.
Explaining the reasons for bringing the building to market, Robert Seabrook, director of marketing agent Savills, said: “The objectives are to respect and protect the heritage of the building now and in the future, enable the potential for public access, ensure awareness of any potential security implications and to maximise value for the taxpayer”.
The leasehold for the building is expected to be worth £75m, with speculation that the arch could be turned into for either a restaurant, hotel or art gallery.