The MOD is to sell its office space in Glasgow for a sum of around Â£47 million. The department use the current building for admin, payroll and HR. The MOD are looking for a leaseback deal where they sell the property and then rent it back, netting them a handsome sum.
No doubt the money will come in handy giving the current commitments of the UK military. However, selling at the bottom of the market may attract criticism when the value of the property increases.That said, the property initially cost the Â£18m back in 1981. The MOD claim the sale is needed for spending on MOD defence estates, rather than to fund front line troops.