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December 12, 2014

Hinduja Group/OHLD consortium wins race to bag Old War Office

The MOD has today announced the sale of the Old War Office, Whitehall, to the Hinduja Group in partnership with Obrascón Huarte Laín Desarrollos (OHLD), whose main shareholder is Grupo Villar Mir. The marketing of the historic building was handled by commercial property adviser GVA.

The 580,000 sq ft property, marketed as 57 Whitehall, was sold on a long-lease arrangement to the joint venture for an undisclosed sum following a competitive marketing process. It is believed the building will be redeveloped mainly as a hotel and residential apartments.

The Defence Infrastructure Organisation (DIO), which is responsible for managing and maintaining land and property on behalf of the MOD, appointed GVA to market the building after it was declared surplus to Defence requirements in August 2013. It is estimated the sale will generate a saving for the Department of around £8-10m per year in running costs.

Defence staff located in the Old War Office Building will finally move out in around 12 months’ time with most operations transferring to MOD’s Main Building.

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