Land Registry has confirmed that following an open and fair competition it has agreed to sell, subject to contract, its Head Office building to the London School of Economics and Political Science (LSE).
Extensive marketing of the property on Lincoln's Inn Fields in London attracted significant interest from a large number of potential purchasers.
Julian Robinson, director of Estates at LSE, said: 'This is a serious landmark building for a serious university The purchase of the Land Registry will enable LSE to further its objective of creating a world class estate commensurate with its academic reputation.'
The building will be used for academic, research and teaching purposes. LSE will take vacant possession in May 2011.
Land Registry contacts, Marion Shelley 020 7166 4543, Marion.Shelley@landregistry.gsi.gov.uk, or Jill Inglis, 020 7166 4487, Jill.email@example.com
LSE Press Office, firstname.lastname@example.org or call 020 7955 7060.
Notes to editors
32 Lincoln's Inn Fields in London is the site of Land Registry's Head Office. An open and fair marketing and bidding process took place over a four month period. This attracted over 100 enquiries and resulted in 60 separate viewings of the building. LSE has purchased the building for the sum of £37.5 million pounds.
With the largest transactional database of its kind detailing over 22 million titles, Land Registry underpins the economy by safeguarding ownership of many billions of pounds worth of property.
As a government department established in 1862, executive agency and trading fund responsible to the Lord Chancellor and Secretary of State for Justice, Land Registry keeps and maintains the Land Register for England and Wales. The Land Register has been an open document since 1990.
For further information about Land Registry visit www.landregistry.gov.uk