Wed, 31 Jul 2013 | COMMERCIAL PROPERTY
An unusual commercial property has been put up for sale by the Government in a bid to raise funds.
Brompton Road Underground station is on the market with bids expected to come in in the region of £20 million.
The station was closed in 1934 due to a lack of passengers but the site gained a second life as the Second World War headquarters of the Army's Anti-Aircraft Division.
The Ministry of Defence maintained ownership of the property ever since and the property has generally been used by local university cadet groups. However, Government efforts to cut the deficit have put increasing levels of pressure on departments to dispose of unnecessary assets.
The building has around 28,000 sq ft of space and includes the lift shafts, stairs, above-ground building and some of the lower passages. However, the disused platforms remain closed off and will continue to belong to the Tube.
Simon Hodson, residential land director at Jones Lang LaSalle, who is handling the sale, commented: "This well located prime central London site provides an excellent redevelopment opportunity and we are expecting a high level of interest."
John Taylor, estates surveyor for the Defence Infrastructure Organisation, which looks after Ministry of Defence property, added that the sale is part of an ongoing process of "constant review" of the MoD estate in order to make sure it meets "operational needs and provides value for money for the taxpayer".
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