All data is delayed
See More

BBC puts landmark up for sale

Jun 13 2011 15:46
London  - The BBC has put its landmark Television Centre broadcasting hub up for sale under plans to cut its property holdings by 30%.

The disposal of the 51-year-old building in London’s White City district could raise more than £300m for the publicly-funded broadcaster.

The BBC, which originally flagged up sale plans in 2007, said on Monday it was would also consider joint-venture proposals which could leave it with some presence at the site.
It has handed the marketing of the 17 000m² location to property consultants Lambert Smith Hampton and has invited potential buyers to register interest by July 1, the BBC said.
Parts of Television Centre, including its main circular building known to staff as the "doughnut", were given Grade II listed status in 2009, meaning any move to develop or refurbish the site would be subject to planning permission.
The BBC said in April that it was aiming to cut its property holdings to 300 000m². It currently occupies 585 000m² across 418 locations.
Earlier media reports put the value of the site in a range between £50m and more than £300m, depending on the potential for development, the amount of land included in the package, and the terms and conditions while the BBC remained a sitting tenant.
The BBC intends to vacate Television Centre by 2015 and will move the bulk of its 5 000 staff to the newly-refurbished Broadcasting House in London and MediaCityUK in Salford.
It also raised the possibility of retaining some of its staff at the site should a joint venture with a developer be agreed upon. This would see it renting back some of its studios from the new buyer to continue making programmes on the site.
bbc  |  property market  |  broadcasting


Read Fin24’s Comments Policy publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're talking about:


With infrastructure spending having been identified as one of the key focus areas of the National Development Plan, tradesmen will continue to play a critical role in growing the South African economy through their skills.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

A 30% a month return on investment is:

Previous results · Suggest a vote