LONDON-The British government plans to sell a London Ministry of Defense building where Winston Churchill once worked. Bloomberg says the Old War Office on Whitehall, will be put on the market once a broker has been hired. The sale of the 111-year-old building will save about $13 million (8 million pounds) a year in ongoing costs, the Ministry told the news agency.
The British military is being revamped to cut costs and reduce personnel. A year ago, a panel of U.K. lawmakers urged the government to sell office space, of which more than 200,000 square meters (2.2 million square feet) is vacant.
The building is expected to fetch at least $150 million (100M pounds).
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