(MENAFN) Britain’s Foreign Office is preparing to sell several embassies and diplomatic residences abroad as part of major cost-cutting measures, according to reports citing recently released government budget documents.

The ministry is reviewing its £2.5 billion ($3.3 billion) portfolio, which includes around 6,500 foreign-based properties, to identify “assets to release,” as hundreds of buildings are either in disrepair or considered too expensive to maintain. The plan also anticipates reducing nearly a third of staff based in the UK.

High-cost locations, such as New York, are highlighted in the budget, potentially including a $15 million penthouse bought in 2019 for diplomats at the luxury 50 United Nations Plaza. The seven-bedroom apartment spans the entire 38th floor and features a library, six bathrooms, and a powder room.

Earlier this year, the National Audit Office and the Public Accounts Committee reported that approximately 933 properties—about 15% of the total—are unsafe or not operationally sound. The Foreign Office estimates that addressing the maintenance backlog could cost £450 million.

The committees also noted that after selling major embassy compounds in Bangkok and Tokyo in recent years, the Foreign Office “has no remaining large assets that are viable to sell.” Overseas, the ministry is reviewing the scale and placement of its network of more than 250 posts across over 150 countries.

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