The Metropolitan Police is close to buying its own headquarters, New Scotland Yard in central London, from Land Securities for £120m.

Land Securities put the iconic building up for sale last month and is thought to be hoping for a yield of around 5.5%.

The 400,000 sq ft building on Broadway in London has been the Met Police’s home since 1967. It has around 20 years remaining on its lease and is thought to pay around £70/sq ft.

Franc Warwick and King Sturge are advising.