Utilize the input text as a context reference, choose the right relationship between Adam Smith Institute and London from the options. Options: product/material produced, manufacturer, distributed by, industry, position held, original broadcaster, owned by, founded by, distribution format, headquarters location, stock exchange, currency, parent organization, chief executive officer, director/manager, owner of, operator, member of, employer, chairperson, platform, subsidiary, legal form, publisher, developer, brand, business division, location of formation, creator.

The MoD is estimated by the Adam Smith Institute to hold fixed assets valued at around £70bn, including land and buildings in prime Central London locations which have a questionable military purpose.

Answer: headquarters_location