The Metropolitan Police Authority has completed its deal to buy its own headquarters, New Scotland Yard in London, from Land Securities.

It is thought that the Met Police paid around £120m for the building.

Richard Linnell, head of investment at Land SecuritiesLondon portfolio, said: ‘This asset is occupied by the Metropolitan Police, and this transaction provides them with an opportunity to manage their operational property directly. As there is very limited action for us in holding the property over the next few years, a release of equity from it is in shareholders’ best interests.’

Steve O’Connell, chair of the Met Police finance and resources committee, said: ‘This move will give us total control over the operational management of the building and decisions about the timing and extent of any future asset strategies.’

Franc Warwick and King Sturge advised Land Securities and CB Richard Ellis advised the Metropolitan Police Authority.