Some of the most recognisable commercial property in London is set to enter the market.
The BBC has announced that BBC Television Centre in White City, West London shall be put up for sale, after being at the site for the last fifty years.
It is expected that the 5000 staff currently located at the site will have been relocated to either, Media City in Salford, or Broadcasting House in central London.
The idea of the sale was initially announced back in 2007, but the economic downturn has meant that plans for selling the historic commercial property site, had until now been placed on the backburner.
The BBC has now appointed, commercial property consultancy firm, Lambert Hampton Smith, to market the landmark building.
With the recent news that London is one of the premier destinations for commercial property on the globe, it is thought a commercial property of this size and location could cost around £300 million.
Chris Kane, head of BBC Workplace, said: ‘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.’
Television centre will be ideal for refurbishment and grade A office space is thought to be something which is well suited for the building.
However, a total renovation of the site would prove to be impossible, as parts of Television Centre, including the main circular ring, which is known as the ‘doughnut’, were given Grade II listed status back in 2009.
The BBC will not be forced into a quick fire sale and will not sell to any old commercial property developer. A spokesman for the BBC said: ‘The BBC is seeking expressions of interest from the market for either a conventional, freehold property sale or alternative proposals possibly based around a joint venture partnership…Our primary aim of the sale is to maximise the value to the BBC and licence fee-payer whilst ensuring the teams and operations based there are successfully relocated.’
