The Metropolitan Police is planning to sell off its headquarters to help save £500m over the next two and half years.
New Scotland Yard in Victoria, central London, would be put up for sale under proposals designed to deliver savings and boost frontline policing.
Police stations across London would also be under threat, with five already approved for sale, as the force seeks to dispose of a third of its estate.
The plans were revealed to the deputy mayor for police and crime on Tuesday.
The Met has been tasked by the mayor's office with making savings of half-a-billion pounds by 2015.
Deputy Commissioner Craig Mackey told the deputy mayor for policing and crime, Stephen Greenhalgh, that if significant savings were to be made then a third of the Met's property estate needed to be disposed of.
Currently, it has about 700 buildings including police stations, patrol bases and traffic garages.
Sharing services"We need buildings that are fit for a modern police service," said Mr Mackey.
"New Scotland Yard costs £11m a year to run and we now need to invest over £50m into it."
He said: "It is a 60s building, so the infrastructure and support services that are in the building, I think, from the heating and ventilation through to the IT provision, is from the 60s.
"Despite the money we've spent on it over the years, it is an asset that we could use differently and better invest the money in policing."
Under the plans the force HQ would move to a nearby, smaller building in Whitehall.
Mr Mackey said a final decision would not be made until November when the proposals would be submitted to the Mayor's Office for Police and Crime (MOPAC) as part of budget savings.
As part of the savings plan, police stations in Richmond, Willesden Green, Highbury Vale, Walthamstow and south Norwood have been approved for sale.
Guy Smith BBC London's Home Affairs Correspondent
It seems nothing is safe from being sold off in the name of making huge "savings" - half a billion pounds before 2015.
Iconic buildings, police stations and front counters are all at risk of the chop. It's all part of a radical strategy to axe a third of the Met's large property estate, much of which pre-dates the Second World War and is now not fit-for-purpose.
Instead of investing in bricks and mortar, the Met is talking about increasing "public access points" to replace front counters at police stations. This means neighbourhood officers being highly-visible in places like supermarkets, shopping centres or council buildings.
Borough commanders are also in the firing line. We won't know how many will go until next month when the budget is presented. But the aim is to reduce managers/supervisors and increase the number of constables by 1,000 to a total 25,000.
It all goes towards helping London's mayor keep his election pledge to maintain overall police officer numbers at around 32,000. Meanwhile, a significant amount of the family silver will go.
But Mr Mackey reassured reporters at an earlier news conference: "We will have at least one station in each borough providing access to the public 24/7."
There are also plans to close "underused" front counters.
The deputy commissioner said 65 out of 136 front counters across London have one visitor an hour and on average there were 48 crimes reported at front counters across the whole of London between 11pm and 7am.
In their place, the deputy commissioner said he aimed to establish more opportunities for safer neighbourhood teams to be in popular locations such as shopping centres and supermarkets.
"We are working with local authorities to share public access points," he said.
The Met is also looking at saving money by cutting the number of borough commanders - currently there is one for each of the 32 council areas.
One idea is to share services and senior managers across some boroughs, with perhaps a superintendent instead being the officer responsible for leading policing.
London's mayor Boris Johnson made an election promise earlier this year to keep police officer numbers to about 32,000.
Mr Mackey proposed that reducing the number of supervisors and senior ranking officers would allow the Met to invest in more police constables on the beat.
"Core policing will still be delivered locally with more officers in neighbourhood policing," said Mr Mackey. "But no decisions have been made on any of these proposals."
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