BBC Sells London's Television Centre
Source: http://www.guardian.co.uk
#bbc #uk #london #realestate
The BBC has sold its historic Television Centre premises in west London in a deal worth more than US$ 310 million. The historic doughnut-shaped building, which dates back to 1960, has been bought by property developer Stanhope plc, the corporation confirmed on Monday.
BBC director general Mark Thompson said the deal was secured after the First Night of the Proms on Saturday.
TV Centre - once the home of TV classics from Top of the Pops to Blue Peter and which once bore the blast from a car bomb - was put up for sale last year as part of the BBC's latest cost-cutting drive.
Thompson said its sale "represents another milestone in the way the BBC is changing" from a number of broadcasting bases to key HQs in the capital and around the country, including the newly-refurbished Broadcasting House in central London and BBC North in Salford.
The BBC's chief financial officer, Zarin Patel, said the corporation's property footprint had been reduced by a third, although in the short term spending on property has increased, by £37m to a total of £187m.
Spending on technology was also up, according to the corporation's annual report published on Monday.
Many programmers have already left TV Centre, including Blue Peter which was relocated along with its famous garden and the rest of the BBC's children's output to Salford.
The sale did not go down well with everyone, however. Newsnight presenter Jeremy Paxman criticised the decision in February, saying: "What organisation - at a time when it has no money, allegedly - would move from cheap square footage in west London to Oxford Circus?"
In a statement, the BBC said TV Centre had been sold to Stanhope plc "for a total price in the order of £200m. Full details of the sale will be available on completion."
The sale of the site, parts of which were given Grade II listed status by English Heritage in 2009, prompted an outpouring of nostalgia on Twitter, including many who worked there and one who had slept under her desk.
The 14-acre site will be empty by 2015 with staff moving to the newly-refurbished Broadcasting House in central London as well as the BBC North HQ in Salford.
The BBC originally announced it wanted to sell the building, which opened in 1960, in 2007.
BBC director general Mark Thompson said the deal was secured after the First Night of the Proms on Saturday.
TV Centre - once the home of TV classics from Top of the Pops to Blue Peter and which once bore the blast from a car bomb - was put up for sale last year as part of the BBC's latest cost-cutting drive.
Thompson said its sale "represents another milestone in the way the BBC is changing" from a number of broadcasting bases to key HQs in the capital and around the country, including the newly-refurbished Broadcasting House in central London and BBC North in Salford.
The BBC's chief financial officer, Zarin Patel, said the corporation's property footprint had been reduced by a third, although in the short term spending on property has increased, by £37m to a total of £187m.
Spending on technology was also up, according to the corporation's annual report published on Monday.
Many programmers have already left TV Centre, including Blue Peter which was relocated along with its famous garden and the rest of the BBC's children's output to Salford.
The sale did not go down well with everyone, however. Newsnight presenter Jeremy Paxman criticised the decision in February, saying: "What organisation - at a time when it has no money, allegedly - would move from cheap square footage in west London to Oxford Circus?"
In a statement, the BBC said TV Centre had been sold to Stanhope plc "for a total price in the order of £200m. Full details of the sale will be available on completion."
The sale of the site, parts of which were given Grade II listed status by English Heritage in 2009, prompted an outpouring of nostalgia on Twitter, including many who worked there and one who had slept under her desk.
The 14-acre site will be empty by 2015 with staff moving to the newly-refurbished Broadcasting House in central London as well as the BBC North HQ in Salford.
The BBC originally announced it wanted to sell the building, which opened in 1960, in 2007.
