Nov. 17 (Bloomberg) -- London’s Metropolitan Police Authority received offers of about 40 million pounds ($63 million) for an office building it no longer uses on the north bank of the Thames river, a person with knowledge of the sale said.
Three bidders are in the final round after more than 25 offers were made for the Curtis Green Building on Victoria Embankment, according to the person, who declined to be named because the sale process is private. The property has space of 93,165 square feet (8,655 square meters) and could be converted into a hotel or apartments, the person said.
The police department is trying to raise money after its budget was reduced by the government, which is implementing the biggest cuts since World War II to pare its record deficit.
“The Curtis Green building is surplus to Metropolitan Police Service’s operational requirements and is currently subject to a bidding process,” the organization said in a statement. “It would therefore be inappropriate to discuss individual bids at this stage.”
Knight Frank LLP, a London-based broker, is handling the sale.
--Editors: Andrew Blackman, Jeff St.Onge.