Bloomberg News

U.K.’s MoD to Sell Knightsbridge Barracks, Property Week Says

May 19, 2012

The U.K.’s Ministry of Defence plans to sell the six-acre Knightsbridge Barracks near Hyde Park in London that houses about 300 soldiers and their horses, Property Week reported, without saying where it got the information.

The MoD is being advised by agent CBRE on a potential sale of the property, which includes a 200,000-square-foot tower, and the marketing process may begin as early as next week, subject to ministerial approval, the magazine said on its website.

The sale could raise 300 million pounds ($475 million) to 500 million pounds, according to Property Week, citing unidentified people in the market. Apartments near the barracks have sold for as much as 7,000 pounds a square foot, the magazine said.

To contact the reporter on this story: Nicholas Larkin in London at nlarkin1@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net


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