BBC markets its Television Centre HQ
THE BBC yesterday put its historic Television Centre on the market.
The iconic grade II listed building, located near the Westfield shopping mall, is expected to fetch up to £300m.
The broadcaster, led by director general Mark Thompson (pictured) said yesterday it will consider joint venture proposals, which could leave it with some presence at the site. This could include maintaining studio space as part of a larger “creative hub” or taking a stake in a television-themed tourist attraction.
It is working with property consultant Lambert Smith Hampton (LSH) on the sale. A source close to the BBC told City A.M. it has been involved in “informal discussions” with several parties but would not confirm which companies are interested.
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.
Head of BBC Workplace Chris Kane said: “Our key objective is to maximise value to the BBC. With high investor demand for commercial property in London and a shortage of landmark sites as distinctive as Television Centre, we anticipate strong competition for both conventional and innovative proposals.”
Potential buyers must register their interest by July. Since 1960 Television Centre has produced hit shows including Fawlty Towers, Dr Who and Blue Peter.
Analysts told City A.M. they expect either a buyer who will look to quickly refurbish the property and rent it as residential space, or someone viewing it as a valuable piece of land in west London who will redevelop it completely.