Land Securities has hired King Sturge to market New Scotland Yard, the headquarters of the Metropolitan Police in London. A spokesperson for Land Securities confirmed on Friday that the company is in talks with several interested parties for the 37,000 m[sup]2[/sup] building, which is believed to have a value of around £130 mln (EUR 151 mln). London's Metropolitan Police is also said to be in negotiations with Land Securities for the purchase of the 20-storey property.

Land Securities has hired King Sturge to market New Scotland Yard, the headquarters of the Metropolitan Police in London. A spokesperson for Land Securities confirmed on Friday that the company is in talks with several interested parties for the 37,000 m2 building, which is believed to have a value of around £130 mln (EUR 151 mln). London's Metropolitan Police is also said to be in negotiations with Land Securities for the purchase of the 20-storey property.

At the presentation of the company's half-year results last week, CEO Francis Salway confirmed widespread speculation that the demerger of the company - which has retail and office assets and outsourcing contracts valued at £14 bn (EUR 17 bn) - had been stalled by the 'unprecedented period of financial instability'. Attempts to sell off Trillium, Land Securities' £1.1 bn (EUR 1.3 bn) outsourcing unit, are to continue.

Land Securities, the largest real estate investment trust (REIT) in the UK, last week announced a net loss of £1.73 bn (EUR 2.1 bn) for the six months to end-September 2008 compared to a profit of £367 mln (EUR 446 mln) in the same period the year before. The company attributed the hefty drop to a decrease of 12.7%, (£1.72 bn) in the valuation of its investment portfolio. Net asset value fell 21% from 31 March to 1,552 pence a share.