The sale of Holloway Prison in north London could net £200 mln (€230 mln) for the goverment and enable at least £300 mln (€350 mln) of residential property to be built on the site, according to UK media reports.
Speculation came after the UK's Ministry of Justice appointed property agent Bilfinger GVA to advise on the disposal of Holloway Prison, the largest womens' jail in Europe.
The sale would liberate more than four hectares of prime London land with access to Zone 2 public transport connections. In line with the Mayor of London's housing density guidelines, that could allow the construction of at least 700 properties, worth a minmum €350 mln at current prices.
The Victorian-era prison currently has a capacity for 501 inmates and was completely rebuilt in the 1970s and 80s.
The Evening Standard suggested that offers of around £200 mln (€230 mln) might be made for the site on Parkhurst Road, N7, quoting property sources.
The prison closure was announced by UK Chancellor George Osborne last autumn as part of a plan to redevelop several British prisons, which is expected to generate at least £1 bn for UK government coffers.
